EURGBP - SO we can see that this pair has had a nice bullish run and we have come back down today and retested this. Of course I have not entered this today as the markets are closing for the weekend so it would be ridiculous to enter later on a Friday.
What we will do Is wait for Monday's London session and hopefully we will see some Liquidity in the market which if price pushes up through the Asia session, allows us to get back in off this nice 50% fib level which lines up with prior structure.
I have added a couple of yellow boxes on there so you can see how price has reacted when ur has shown over bought on the stochastic indicator along the bottom. We can see that the stochastic is showing us that this pair is now oversold and we SHOULD see some momentum back to the upside.
Target is set out slightly below full range of the fib due to finding some support which again I have marked out. Of course this trade will all depend on how it looks on Monday which I will no doubt update you all on so do not enter until further confirmation has been shown to us on the chart.
Any questions be sure to drop a comment
What we will do Is wait for Monday's London session and hopefully we will see some Liquidity in the market which if price pushes up through the Asia session, allows us to get back in off this nice 50% fib level which lines up with prior structure.
I have added a couple of yellow boxes on there so you can see how price has reacted when ur has shown over bought on the stochastic indicator along the bottom. We can see that the stochastic is showing us that this pair is now oversold and we SHOULD see some momentum back to the upside.
Target is set out slightly below full range of the fib due to finding some support which again I have marked out. Of course this trade will all depend on how it looks on Monday which I will no doubt update you all on so do not enter until further confirmation has been shown to us on the chart.
Any questions be sure to drop a comment
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.