Long

EURGBP Looking to go long

By geodou

Updated

A possible cup a handle setup on the weekly chart. Am looking for an entry trigger on the daily chart.

Note

Key reversal daily candlestick.
Setting a pending buy order.
Buy stop order at 0.88992.
Stop at 0.88666.

Trade active

The trade is active.
Stop: 0.88666
First target: 0.89745

Note

The trade does't seem to work out. Probably we will get stopped out.
Looking for another opportunity.
Have a good weekend.

Note

Am seeing an opportunity to go long again in the pair.
1) A key reversal candlestick in the weekly chart.
2) Divergence in the MACD histogram at the last three previous lows while in range on the daily chart.
3)A possible head and shoulders pattern in the 4 hour chart with an obvious reaction the the 3 exponential moving averages of (20, 50 and 200).
So one way is to wait for the neckline to break and wait for a possible pullback to go long. Or go long in Monday session and place a stop loss 20 pips below the right shoulder.

Note

Note

geodou

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