EUR/GBP Reversal of trend! [Quick Updates]

27 Nis 2020

Hey all, here’s another entry on my tradingview series called 'Quick Updates'.

Here's a nice setup for you using horizontal support and resistance on the 15m. A great way to start trading here, as you'll get feedback quickly and the percentage gains or losses are small. I showed my suggestions for take profit and stop loss on the chart.

We've seen this horizontal support for a while now, but it's nice to see that it just got confirmed after a clean bounce off this level. This can give us indication of a short term trend reversal, and we can monetize this scenario by trading a LONG position.


--- What is The Quick Update Series All About? ---
I have started a new tag (quickupdates) where I quickly share great opportunities based on TA for shorter timeframes, such as 4h, 1h, and 15m. It will contain a brief explanation with clear and clean charts in order to keep the velocity up and make sure you get to see the opportunities as fast as possible.

Follow me for consistent high quality updates, with clear explanations and charts.
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- Trading Guru

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!

27 Nis 2020

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The price dropped again to the support level. If you weren't in the trade already, this could be a great moment to enter with an even better Risk Reward ratio:

You can also wait a bit to get confirmation of the support zone and see if it holds again this time.