EURGBP look for completion of this structure before sell
Hi everyone:
MY analysis and forecast on EURGBP this week onward.
I see price is in a larger higher time frame structure, and has been in this channel correction since the drop.
What I see is 2 possible scenarios here:
a) I expect price to continue correcting upwards toward the top of the channel, in that case I will look for selling opportunities from the top, giving me the best Risk reward.
b) Price may drop down from this lower time frame double tops, and in that case I will look for small continuation correction on the lower time frame for the sell.
From experiences, I like to see scenario A to happen, however, as a trader we need to know what is likely to happen, and what is still possible to happen.
Be prepare for all kinds of scenario, and forecasting the different possibilities will give you a sold mindset to be consistent in the long run.
Thank you
MY analysis and forecast on EURGBP this week onward.
I see price is in a larger higher time frame structure, and has been in this channel correction since the drop.
What I see is 2 possible scenarios here:
a) I expect price to continue correcting upwards toward the top of the channel, in that case I will look for selling opportunities from the top, giving me the best Risk reward.
b) Price may drop down from this lower time frame double tops, and in that case I will look for small continuation correction on the lower time frame for the sell.
From experiences, I like to see scenario A to happen, however, as a trader we need to know what is likely to happen, and what is still possible to happen.
Be prepare for all kinds of scenario, and forecasting the different possibilities will give you a sold mindset to be consistent in the long run.
Thank you
Ghi chú
Ghi chú
Price did move up more to tag the top of the channel structure. Although did not have a rejection, a strong impulsive down move valid this setup. I will look for continuation correction for short opportunities, 
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.