EURGBP still showing downside - with warning
M Formation on a large scale has formed.
We had the price break below and then retest the pattern once again.
Thing is we haven't had the price break above the downtrend as of yet. This means, the bias does remain bearish but anything can change if the selling doesn't continue.
200>21>7 (bearish)
RSI<50 (Lower highs)
Target -0.8200
SMC
(Buy Side Liquidity is where Smart Money comes in and sells into the Order Block. However, with the price still flirting at the support means, the selling is not as a strong as anticipated.
I'm bearish but cautiously bullish if the price does break above the downtrend.
We had the price break below and then retest the pattern once again.
Thing is we haven't had the price break above the downtrend as of yet. This means, the bias does remain bearish but anything can change if the selling doesn't continue.
200>21>7 (bearish)
RSI<50 (Lower highs)
Target -0.8200
SMC
(Buy Side Liquidity is where Smart Money comes in and sells into the Order Block. However, with the price still flirting at the support means, the selling is not as a strong as anticipated.
I'm bearish but cautiously bullish if the price does break above the downtrend.
✅ Facebook:
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
facebook.com/groups/matitrader
🌐Website:
timonandmati.com
𝕏 (Formerly Twitter):
twitter.com/timonr
Trade Well,
Timon Rossolimos
Founder, MATI Trader
(Pro trader since 2003)
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