Hello my friends,
Another trading plan for next week is EURGBP.
After price breaking above the descending trendline, this pair has gone up aggresively and i think there is still more to it.
Right now price retracing a little bit after going up for around 240 pips from 0.8980 to 0.9230.
This retracement is only a healthy correction as long as price hold above 0.9080-0.9060.
We could see further weakness if price failed to hold above that 0.9080-60 area.
I tried to break down this recent upwards movement with Elliott Wave theory and price currently retracing for wave-iv after completing wave-iii.
If we look from daily timeframe, price also closed above 0.9150 which served as resistance.
Hence, taking a buy position on a correction towards 0.9100-0.9090 looks promising.
Buy EURGBP 0.9100
Stop loss 0.9060
Take profit 0.9280 (4.5R)
RR Ratio 1 : 4.5
Use only 1-2% risk
Good luck
Another trading plan for next week is EURGBP.
After price breaking above the descending trendline, this pair has gone up aggresively and i think there is still more to it.
Right now price retracing a little bit after going up for around 240 pips from 0.8980 to 0.9230.
This retracement is only a healthy correction as long as price hold above 0.9080-0.9060.
We could see further weakness if price failed to hold above that 0.9080-60 area.
I tried to break down this recent upwards movement with Elliott Wave theory and price currently retracing for wave-iv after completing wave-iii.
If we look from daily timeframe, price also closed above 0.9150 which served as resistance.
Hence, taking a buy position on a correction towards 0.9100-0.9090 looks promising.
Buy EURGBP 0.9100
Stop loss 0.9060
Take profit 0.9280 (4.5R)
RR Ratio 1 : 4.5
Use only 1-2% risk
Good luck
İşlem aktif
Buy active from 0.9100
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.