Hi traders: Excellent opportunity to short EURGBP for three different targets! I am planning to hold this trade for medium to long term depending on price action.
Enter the SHORT position @0.8695 as the 4 HR chart hit previous resistance area of 0.8700, 0.618 fib retracement, formed high test candle then dropped, now looking for a short of the main pivot, 0.8700 level
4 HR above key resistance level of 0.8700, and previous tops, result: 1% loss. Date: 01/12/2017 Time: 17:00 GMT
Kommentar
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Another opportunity to sell:
Kommentare
Trader_Dale
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Thanks for your great analysis!
Here is my view on EUR/GBP if you are interested:
Based on Market Profile (volumes) and Price Action there are two very strong resist/support zones. If you look at the Cummulative volume on the right you can see two main volume areas. The higher one was formed by cummulation of short trades that went into a strong sell-off. If the price comes there again there is high probability that the sellers will become active again.
Support around 0.8544 is very strong because it lies exactly at at a place where the heaviest volumes of the day were created. From this place the price shot higher indicating strong buyers in this area.
If trading those levels be extra carefull and dont trade during strong GBP news.
If you are interested there are more Market profile swing and intraday analysis in my profile page. You are very welcome there!
Dale
hello.. i'm shorting this pair too, but unluckily it doesnt work as we will... is there any explanation Mr. Jojofang?? glad to read your opinion... :)
jojofang0901
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@EndryHimawanBudiSasongko, I would say that we can have all the analysis done in favour of our point of view but in the end its up to the market which direction it wants to go.
@jojofang0901, and do you still follow this pair? maybe waiting for reversal or continuation signal??
jojofang0901
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@EndryHimawanBudiSasongko, IF price action stay above 0.8700 then its going to continue its bullish momentum, if it can break below 0.8700 and use it as a resistance then it will have a bearish momentum
Here is my view on EUR/GBP if you are interested:
Based on Market Profile (volumes) and Price Action there are two very strong resist/support zones. If you look at the Cummulative volume on the right you can see two main volume areas. The higher one was formed by cummulation of short trades that went into a strong sell-off. If the price comes there again there is high probability that the sellers will become active again.
Support around 0.8544 is very strong because it lies exactly at at a place where the heaviest volumes of the day were created. From this place the price shot higher indicating strong buyers in this area.
If trading those levels be extra carefull and dont trade during strong GBP news.
If you are interested there are more Market profile swing and intraday analysis in my profile page. You are very welcome there!
Dale