EURGBP | Long H1 | Market Exe | Two Zones StoryTechnical Confluences for Trade:
- Stochastics are in Oversold Conditions on H1 & H4 time-frame
- Price is currently at a 78.6% Retracement level from Previous Low-High
- Price action should bounce between both Supply-Demand Zones
- Price is entering a Demand Zone (Yellow Zone)
- Aiming for the next Supply Zone (Blue Zone) at a 61.8% Fibo retracement & resistance from Trendlines
Fundamental Confluences for Trade:
- Nothing much can dictate the movement of this FX pair as they are heavily trade-related. Any major movement will come from supply-demand areas, monetary policies or economic data gyrations.
Suggested Trade:
Entry @ Area of Interest 0.8540 - 0.8550
SL @ 0.8526
TP 1 @ 0.0.8580 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 0.8606
Risk-to-Reward @ Approx. 2.63 (Depending on Entry Level)
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Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks.
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