Eur-gbp
EUR/GBP Trade Idea and Multi Timeframe ExplanationTRADE IDEA EXPLANATION:
- Referring to the 4H chart, what we will look for to get involved in this pair is what we indicated on the chart.
- After the break of the Ascending Channel, we expect a penetration of the Support Zone and a Corrective Pattern (Flag, Pennant, Zig-Zag, triangle).
- If this is formed, we will place our bearish position after the breakout of the structure, and the stop loss above it.
- The target of the movement will be the next Support zone (0.87000.)
CONTEXT EXPLANATION:
- The first step is to start with the a higher timeframe chart, in this case the Weekly Chart. Here we see that the price faced a resistance zone where it was rejected multiple times.
- After the last rejection, the price makes a correction of type A B C, which can be traced within a bullish channel. Within that movement there were no clear trends, so we did not execute any trade.
- Now, we can see that this channel has been broken to the downside with a strong move.
- The first target of the bearish movement is the Support zone at 0.87000.
- Then, if this zone is broken down, the next zone is the Support zone at 0.82000
EURGBP long1h and 15m time frames:
two harmonic patterns simultaneously, Garttly & Butterfly.
we have RSI and MACD buy signal too.
in D1 time frame there is reaction to the 0.786 price retracement line.
I place buy stop command.
stop loss line shown on chart.
EURGBP at the 0.786 fib retracement 🦐EURGBP on the daily chart after hitting the recent highs over a monthly resistance started a retracement move inside a channel.
The price hit now the 0.786 over a daily support.
IF the price will break above the structure at 0.90 area we will set a nice long order according to Plancton's strategy.
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Follow the Shrimp 🦐
Keep in mind.
• 🟣 Purple structure -> Monthly structure.
• 🔴 Red structure -> Weekly structure.
• 🔵 Blue structure -> Daily structure.
• 🟡 Yellow structure -> 4h structure.
• ⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
What to expect on EUR/GBP🔸4H CHART EXPLANATION:
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🔸This pair has been on a huge corrective move for the last months.
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🔸Our view is not ready yet, but we are waiting for a bullish breakout of the Ascending Trendline.
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🔸If that happens, then we will look for a corrective move to get involved.
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🔸The bullish target is the Resistance Zone.
EURGBP - SWING - 05. NOVE. 2020Welcome to our weekly trade setup ( EURGBP )!
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1 HOUR
Very bullish price action and pressure.
4 HOUR
Expecting further upside movement from this pair!
DAILY
Overall market turned bullish, following this trend.
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FOREX SWING
BUY EURGBP
ENTRY LEVEL @ 0.90310
SL @ 0.89900
TP @ 0.90920
Max Risk. 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
EURGBP rejected by a weekly resistance 🦐EURGBP on the daily chart is moving inside a descending channel within a bigger ascending channel.
The price after touching the lower trendline bounce until the weekly resistance area at 0.90600.
IF the price will break and retest the support structure at 0.89700 and consequently break the channel, we will set a nice short order according to Plancton's strategy.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
EURGBP - Potential buy entry 🔼EURGBP is testing the ascending channel support.
Breakout above minor downtrend resistance could be a bullish signal ⬆️.
EURGBP - We are on the bottom of the channelEuro have better fundamentals than GBP and also we are at the bottom of a daily channel, so reversal to the upside is the most-likely scenario
Simple! Low Risk !I usually consider triangles a good opportunity! This triangle has been mixed with Elliot by the way! Personally I went long for this pair! Anticipating the price to reach an area rather like the high of prior rectangle and more.
Put your stop below the right red rectangle!
Bests !
EURGBP Intraday Setup.EURGBP - Intraday - We look to Buy a break of 0.9044 (stop at 0.9004)
There was little net movement as we continue to consolidate within the 0.9149 - 0.9007 range.
Bespoke resistance is located at 0.9044.
A break of 0.9044 is needed to confirm follow through bullish momentum.
The 50% Fibonacci retracement is located at 0.9149 from 0.9291 to 0.9007
Risk/reward is ample to call a buy trade.
Our profit targets will be 0.9149 and 0.9183
Resistance: 0.9044 / 0.9087 / 0.9149
Support: 0.9131 / 0.9015 / 0.900
