Harmonictraders
2 reasons to sell EURGBP nowEURGBP is on the uptrend so this is a countertrend trade. There are some good reasons for taking this.
1) There are 2 harmonic patterns to sell.
2) There is a weekly high from last week at 0.8588
3) H4, H1, M30, M15 is all overbought
4) RSI divergence in M30 and M15.
Stop loss is just 30 pips. Let's go!
USDCHF LongTime Frame: 1H
Symbol: USDCHF
Entry: 0.96015
TP: 0.96572
SL: 0.95669
Bias: Long
Current price study of this instrument is revealing a short term bullish opportunity. Though it is really difficult to find high probability opportunities or setup nowadays , the average directional bias for this pair is on the bull side. So we are planning a short term momentum trade.
JPYUSD ShortTime Frame: 4H
Symbol: JPYUSD
Entry: 0.007721
TP: 0.007518
SL: 0.007857
Bias: Short
The current price projection for this instrument is showing a bearish bias and that is the reason we anticipate a high probability selling setup from the current context. Though it is an obvious sell signal, trade should be placed with proper caution.
JPYUSD NeutralTime Frame: 4H
Symbol: JPYUSD
Bias: Neutral
It is self evident that if the momentum and volatility are absent in the market, there is little or no chance to make money positioning based on directional probability. The example is still valid for this instrument . We do not see any hope for the time being.