EURGBP LONG
EURGBP had an aggressive sell off and attempt to break descending channel failed. it found support at 0.8723. this level acted as a strong support before
now its creating a Head & Shoulder pattern on H1 time frame
the neckline matches 23% fibo retracement
50% and even 61% are possible targets if it broke neckline but according to strong downtrend 50% will be reasonable because it matches channel resistance area also taking profit and breakeven is necessary when it hits 38%
trading breakout will be good for this setup but i like to wait for a retest of neckline trendline, 23% level and 20EMA
now its creating a Head & Shoulder pattern on H1 time frame
the neckline matches 23% fibo retracement
50% and even 61% are possible targets if it broke neckline but according to strong downtrend 50% will be reasonable because it matches channel resistance area also taking profit and breakeven is necessary when it hits 38%
trading breakout will be good for this setup but i like to wait for a retest of neckline trendline, 23% level and 20EMA
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.