EUR/GBP PRICE BREAKOUTWe wish that our analysis could be helpful on your trades. Here is an update for EUR/GBP, envisage for PRICE BREAKOUT. It would be a great idea to SELL on 0.89414 and place your TARGET at 0.89062
Eurgbpsell
EURGBPOur preference: sales position below 0,8960 with targets at 0,8900 & 0,8865 in extension.
Alternative scenario: in excess of 0.8960, aim for a continuation of the increase with 0.8995 & 0.9035 in line of sight.
Comment: The RSI is misdirected.
EURGBPOur preference: sales position below 0,8995 with targets at 0,8900 & 0,8865 in extension.
Alternative scenario: in excess of 0.8995, aim for a continuation of the rise with 0.9035 & 0.9080 in line of sight.
Comment: The RSI is misdirected.
EURGBP Sell And Then Buy The Dip!On the 4 hour time frame for EURGBP we can see a very nice Elliot Wave structure. Currently we are in the 4th wave of a bullish Elliot structure. Its most likely that this wave down will approach the lower range before bouncing back up into its final 5th wave. On Stoch we also have a nice bearish crossover and the ADX shows a bearish claw. Supporting a down move towards the lower range which will get hit around 0.8880.
Trading advice:
Short with target of 0,8880. At this price take profit and enter your 1st buy position to catch the 5th wave with a target of 0.92 > 0.96
EURGBP short opportunityit's near the mid line of the pitchfork and is going to complete an impulse 5 waves of elliot so we will have a correction there and as you know min for target of first move of correction is equal to 5 and ABC can correct 61.8 of all the impulse waves
EURGBPOur preference: sales position below 0.8845 with targets at 0.8815 & 0.8800 in extension.
Alternative Scenario: In excess of 0.8845, aim for a continuation of the increase with 0.8860 & 0.8880 in line of sight.
Comment: the support sinking at 0.8845 triggered a bearish acceleration on the support at 0.8800.
EURGBP Correction Our preference: sales position below 0.8850 with targets at 0.8775 & 0.8745 in extension.
Alternative Scenario: In excess of 0.8850, aim for a continuation of the rise with 0.8870 & 0.8900 in line of sight.
Comment: The RSI is badly oriented
Formation of Lower HighRetest of trend line at 0.8718 creating a new lower high then continuation of downtrend.
EURGBP FINDING RESISTANCEEURGBP found enough energy to break out of the triangle but it appears as if a 78.6% level may be putting a slight hold on the upward move. The anticipation is that the fib level will hold and that the move out of the triangle is a fakeout. Look for more downside order flow if price moves back into the triangle.
Possible scenario for EURGBPThis is My current view of this pair, the price is in consolidation, a ABC correction pattern ? EURGBP
Double Top at Structure on EURGBP! May fill the gap?Hey guys,
the gap we were expecting was very big (especially with euro and yen pairs) but remember that gaps tend to be filled afterwards. So, if this alligns with my structure analysis i think the opportunity is good. The yellow box you see above represents a previous level of structure that acted as support and now could turn into resistance.
As we go on lower timeframe such as 1hr price has formed a nice double top with RSI divergence.
I'm waiting to see a pullback in order to get a better risk to reward ratio with the first target at the retest of the lows. Second target could go at the close of the gap, or at structure (0,840).
If you want to share your view, or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
Double Top at Structure! May fill the gap?Hey guys,
the gap we were expecting was very big (especially with euro and yen pairs) but remember that gaps tend to be filled afterwards. So, if this alligns with my structure analysis i think the opportunity is good. The yellow box you see above represents a previous level of structure that acted as support and now could turn into resistance.
As we go on lower timeframe such as 1hr price has formed a nice double top with RSI divergence.
I'm waiting to see a pullback in order to get a better risk to reward ratio with the first target at the retest of the lows. Second target could go at the close of the gap, or at structure (0,840).
If you want to share your view, or ask questions, feel free to comment below.
Otherwise, see you in the next chart!
