EURGBP Strong Buy Setup (Swing)
EURGBP is in a perfect situation to go Long.... here is why.
This pair has been falling since August 11th (more than 3 months). And now is touching a strong support for the 4th time.
Added to this, a Market Maker Strategy (MAAW Pattern) is completing its formation with a big Bullish divergence.
If we use a fibonacci extension we can find a perfect goal on the 61.8 level that perfectly matches the next mayor resistance at 0.88000
As conclusion this setup works perfect for me, risking 50 pips with a potential reward of 290 pips, almost a 1:6 Ratio
I would be entering a long position with a:
Buy Limit @ 0.85100
StopLoss @ 0.84600
TP @ 0.88000
Don't risk more than 2% of your accounthttps://www.tradingview.com/x/0MgYfP9Z/
This pair has been falling since August 11th (more than 3 months). And now is touching a strong support for the 4th time.
Added to this, a Market Maker Strategy (MAAW Pattern) is completing its formation with a big Bullish divergence.
If we use a fibonacci extension we can find a perfect goal on the 61.8 level that perfectly matches the next mayor resistance at 0.88000
As conclusion this setup works perfect for me, risking 50 pips with a potential reward of 290 pips, almost a 1:6 Ratio
I would be entering a long position with a:
Buy Limit @ 0.85100
StopLoss @ 0.84600
TP @ 0.88000
Don't risk more than 2% of your accounthttps://www.tradingview.com/x/0MgYfP9Z/
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