According to my previous idea i think the price is forming a big triangle:
The B leg appears to be completed and now the price is moving toward the C leg completion.
We can look for longs now but Its tricky to trade inside a triangle, so im staying aside and wait for the leg C completion.
There is a potential bearish bat pattern at a strong structure, trendline resistance and EMA 200 near that level. I will be looking to sell there.
Right now im long on EURGBP so im leaving this pair until i see a better scenario.
Happy Weekend.
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Robson.TraderFX
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FullTimeTrader
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Hello, thanks for sharing your ideas. I did the D1 technical analysis and found the trendline has already broken. The price is facing strong horizontal and trendline support. Looking at RSI we see the price is bouncing from the trendline already. We have also a potential inverse head and shoulders pattern forming. I would enter long now with a small risk
Robson.TraderFX
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SmartTradingFX
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My take on the same pair
FullTimeTrader
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Hello, thanks for your comment. From my point of view the trendline is about to be broken.I'm expecting an ABC move, so i would buy now or below because the price is making a pullback. Lets see what happens.
IvanLabrie
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Yeah, was looking at a rally to short, actually found that same pattern with moneymaking today.
I'm short already but will just look to add higher if it works.