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Eurgbptrend

EURGBP: Expecting A HUGE Price Swing! Whats up everyone? Lets start this new trading week with a new idea! We are looking at the EURGBP pair on the 4h timeframe and im expecting price to drop from now. When you guys look on the overall timeframes like the daily etc. you will see how bears take control. I really like to enter right now on the retrace, with really high reward to low risk - as always. Potential price tragets are where price did a little bit of a gap. But looking on the daily or weekly timeframes, we can also hold the trade for much lower targets! Will this trade be the 5/5 trade for us? Lets see! Wishing everyone success and a great week!
Short
by darian_fx
3
eurgbpthis analysis is showing both ways warnings! so with evolving and every new information and move that the market is making we can read the intentions but everything can change, so ill try to explain euro pound here. on daily tf is showing big divergence and is at the daily resistance and after the first motive 5 wave structure we can take all that (white correction) as a corrective running or expanding flat and naturally we r going down... well not so fast... here on the chart im seeing a three wave move down ( red counting ) which implies on correction and not on motive for change of direction. that strong move up may turn in to B structure of the correction, so as iv said, as shrodingers cat until we get more info we cant know whether trend is dead or not ;) p.s. divergence is not always showing change of direction, some times its only a correction before continuing. as shown with yellow lines!
by sharing_is_caring