EURGBP June W.5: Long-term trend signal
Hi friend, I hope y'all having a profitable week ;)
Today, we have a long-term trade on this baby. I've been waiting for this trade for 3-4 weeks; I shared an idea on it that failed this month (check the previous posts). Despite that, we got another opportunity, so let us look at how the trade triggered and how we will get out exit signal.
Bulls: -When the price bullish broke and retested the Weekly Neckline together with the 50 and short-term m.a's, it triggered our first trade that we didn't catch. After it did that, it proceeded to bullish break and retest 3rd Weekly Key Lvl on the lower time together with the 200 m.a that's visible on my MT4 chart. So we got 2 trades here, but we hopped on 1 trade, and I call the trade we're in, a "Double Bottom A-E.2 BUY signal".
Bears: -If the price closes with a bearish reversal candle pattern below the 4th Weekly Key Lvl and 200 m.a, that's followed by a bearish break and close below the 8 m.a, then we'll close my trade.
That's it for today. I hope you found value in this trade idea. If you have a different concept in mind, feel free to share it in the comments section or in private, I'd love to know you thoughts!
Stay Blessed,
Doji-2k1.
Today, we have a long-term trade on this baby. I've been waiting for this trade for 3-4 weeks; I shared an idea on it that failed this month (check the previous posts). Despite that, we got another opportunity, so let us look at how the trade triggered and how we will get out exit signal.
Bulls: -When the price bullish broke and retested the Weekly Neckline together with the 50 and short-term m.a's, it triggered our first trade that we didn't catch. After it did that, it proceeded to bullish break and retest 3rd Weekly Key Lvl on the lower time together with the 200 m.a that's visible on my MT4 chart. So we got 2 trades here, but we hopped on 1 trade, and I call the trade we're in, a "Double Bottom A-E.2 BUY signal".
Bears: -If the price closes with a bearish reversal candle pattern below the 4th Weekly Key Lvl and 200 m.a, that's followed by a bearish break and close below the 8 m.a, then we'll close my trade.
That's it for today. I hope you found value in this trade idea. If you have a different concept in mind, feel free to share it in the comments section or in private, I'd love to know you thoughts!
Stay Blessed,
Doji-2k1.
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