EURGBP Long Term Bearish
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Take note that this is based on the weekly and monthly time frame, so that smaller time frames can still move up
Time for a long term view on EURGBP on the weekly and monthly time frame. Whats very interesting about these time frames is that both shows a bearish wedge and are close to a resistance. Besides that the monthly also shows a possible double top. This double top will be confirmed if august closes red... So basically for a full sell signal you would have to wait till the monthly candle of august closes.
Personally I lack the patience for it, if the same counts for you then just start with building up a small short positions. This way you will have plenty of margin to add more if it goes a bit up first and ofcourse to add more when it goes down.
A safe stop would be at 0,9080 or 0,9120. Now this will look like a big stop loss of 100+ pips but remember that the higher you go in time frames the bigger the trading range. So automatically this also gives you a big stop loss. On the other side it also gives you a big take profit target :) The daily time frame show 0.8990 as stop.
Take profit targets are 0,8780 and 0.8480 after that. So plenty of cash to be made if you have the patience to hold on the next months
Time for a long term view on EURGBP on the weekly and monthly time frame. Whats very interesting about these time frames is that both shows a bearish wedge and are close to a resistance. Besides that the monthly also shows a possible double top. This double top will be confirmed if august closes red... So basically for a full sell signal you would have to wait till the monthly candle of august closes.
Personally I lack the patience for it, if the same counts for you then just start with building up a small short positions. This way you will have plenty of margin to add more if it goes a bit up first and ofcourse to add more when it goes down.
A safe stop would be at 0,9080 or 0,9120. Now this will look like a big stop loss of 100+ pips but remember that the higher you go in time frames the bigger the trading range. So automatically this also gives you a big stop loss. On the other side it also gives you a big take profit target :) The daily time frame show 0.8990 as stop.
Take profit targets are 0,8780 and 0.8480 after that. So plenty of cash to be made if you have the patience to hold on the next months
Сделка активна
Сделка активна
2nd sell
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