EURGBP wedge retest

27 Nis 2020

Previous analysis worked out perfectly, even the increase at the flag was great, wish it was always that easy :). Now we can see the target zone was exactly the high and we have come back all the way down again. Now this kind of movement gives potential, that is assuming the rally from last week was a test of the market to see what the resistance is/was. Now we get a possible second attempt. If that theory is correct, it should make a bigger rally than the previous one, but can't say yet of course.

My guess now is, is seeing a small break of support as we can see on the right, but if the drop falls short and we hang there (say staying above the green support on the left, something like the blue line), then i think this could be a great play. So i am going to wait and see how it will play out the coming day or so, then potentially taking on a trade if i see my thoughts play out.


Don't forget to like if you appreciate this :)


Previous analysis:

28 Nis 2020

Not

Going as planned so far, but of course all still without real confirmation. So it looks good, didn't dump below that support, so that is going as planned. Would be good to see a 2h candle close above that red line, that would be like a small confirmation

28 Nis 2020

Not

30 Nis 2020

Not

Damn, looked so perfect, but this dump just now has destroyed the whole setup. Now just need to sit and wait, maybe next week it will give another chance