Choppy EURGBP is giving a sign of possible push higher up
Price broke resistance on 19th of October and went in to a range quickly after that for 15 days before coming back down to retest the psychological level at 0,86500. At the same level price touched smoothed SMA200 on daily and H8 which brought some more buyers in to the game. Since the price is making HH/HL, combined with the BNR pattern I'm convinced we could reach next bigger resistance 0,89500 or at least 0,88500 before a retracement. I entered a buy position after a BOS on H1. Risk is limited below the zone if market decides to fall down.
Note
Added a scale-in for 2,08REntry: 0,87219
SL: 0,86783
TP: 0,88128
Note
Added second scale-in for 5REntry: 0,87013
SL: 0.86790
TP: 0.88131
Trade closed manually
Closed all trades before TP in profit!Initial trade for 1,07R, first scale-in for 0,78R and second one for 2,45R.
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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.