🔍 Pattern: Falling Wedge
⏱️ Timeframe: 4-Hour
📈 Potential Move: +4.9% upside (~413 pips)
After a long consolidation phase within a falling wedge, EUR/GBP is showing signs of a potential breakout to the upside. Historically, this pattern tends to resolve with a bullish breakout.
💡 Trade Setup (Bullish Bias):
Entry: ~0.8424
Stop Loss: Below 0.8295
Take Profits:
TP1: 0.84791
TP2: 0.85299
TP3: 0.85779
TP4: 0.86502
Final TP: 0.87360
📊 Volume is beginning to build up, supporting the potential breakout scenario. If the wedge breaks upwards, we might see a similar move to the last bullish breakout (~4.9%).
🧠 Risk Management is Key!
Always trade with a solid plan and defined risk parameters.
#EURGBP #ForexTrading #TechnicalAnalysis #PriceAction #TradingSetup #BreakoutTrading #ForexSignals #FallingWedge
⏱️ Timeframe: 4-Hour
📈 Potential Move: +4.9% upside (~413 pips)
After a long consolidation phase within a falling wedge, EUR/GBP is showing signs of a potential breakout to the upside. Historically, this pattern tends to resolve with a bullish breakout.
💡 Trade Setup (Bullish Bias):
Entry: ~0.8424
Stop Loss: Below 0.8295
Take Profits:
TP1: 0.84791
TP2: 0.85299
TP3: 0.85779
TP4: 0.86502
Final TP: 0.87360
📊 Volume is beginning to build up, supporting the potential breakout scenario. If the wedge breaks upwards, we might see a similar move to the last bullish breakout (~4.9%).
🧠 Risk Management is Key!
Always trade with a solid plan and defined risk parameters.
#EURGBP #ForexTrading #TechnicalAnalysis #PriceAction #TradingSetup #BreakoutTrading #ForexSignals #FallingWedge
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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.
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.