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Eurgbptrend

Flag pattern on EURGBPHey guys, another simple pattern on my radar today. This time i'm right on time because the break has just happened. You can see the big impulsive leg that broke multiple structure levels on the 4hr chart. Like i said on the previous idea usually after impulses like this price put brief form of consolidation like flag, triangles and pennants. You can trade in two different ways: the first is to sell the close of the breaking candle, but in this case in order to have a better than 1:1 RR you have to set your target1 below structure (maybe lining up with 1.27 extension), the other way (the one i'm using) is to wait for a pullback and then sell as soon as you get a 1:1 RR at the retest of the lows. And then maybe you can split your position and take target2 at the extension. It's up to you. Feel free to comment below if you want to share your viewpoint or ask some questions. See you in the next chart!
Short
by Roker1
2
UK supreme court will confirm T.May right to triger article 50 Eyeballing the immediate trend remains bearish since November made new lows. This is further illustrated with our models signaled up meaning we may be preparing to rally. At this moment market is still in a downtrend looking at the weekly level. The last high is marked in the first week of October, we remain below key support and resistance is now at 0.84200. On a broader basis monthly levels imply a rise in trend. Some caution is required with buys on this pair.
Long
by TheBanker
1
EURGBP : Ripe for Breakout, but Now or Later ?!Eurgbp is consolidating from last week and I expect the breakout to be wild one. I don't rule out the possibility of false breakout, bcos people will get excited, price moves up & euphoria settles down comes back hits our stops and market moves to other direction. In triangles always wisely place your stops ( figure out a better way to manage risk n reward ) , so that even after the false breakout you can enter other direction, which covers the pips lost in false breakout & gives you some profitable pips. Happy TradinG !
by InsiderB