Marketstucture
eurgbp long trade ideaHello Traders,
In order to see uptrend continuation appear, I would wait for the price to test the zones as the last attempt for evidence that the seller is off and the recent support is solid.
Before taking this idea please mind your core principles of your trade confluences with proper risk reward management.
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GBPJPYAnalysis
Daily: Price failing to create an equal or lower low at 130.659.
4h: Candlestick closed as doji (indecision) with a higher top wick at the bottom of a downtrend.
1h: Minor double bottom on 1hr LL followed by a sell-to-buy structure.
Confluence
1. Equal low or lower low failure
2. High wick indecision candle at downtrend
3. sell-to-buy structure
4. Bullish RSI divergence (price making LL, RSI making HL)
Technical Keys
Arrow Line:
solid: most probable move
dashed: possible move
Horizontal lines - midpoint/decision point (supply/demand)
These are plotted based on a price midpoint: top wick meets previous bottom wick/bottom wick meets previous top wick = supply meets demand, demand meets supply.
BTCUSD: WAITING for the STOPHUNT phase(Short opportunity update)In a few days, we might get to see the price to speed up to 10000.00$. Lower TF traders will see it as another valid rally n buy the range breakout, the Trendline Traders would also buy the upper trendline breakout as we see at higher TF. In reality its just the scheme to provide more liquidity for the BIGBOYS to fill their big orders. Lets see how the story unfold.(ANOTHER LONGTERM TRADE U DON'T WANT TO MISS!!!!)
Disclaimer
This is not investment advice. Trading entry need more research and real-time confirmation.
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