EURGBP - Potential Reversal!

4. Sept. 2022

Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

on WEEKLY: Left Chart
EURGBP is approaching a resistance zone so we will be looking for sell setups.

Knowing that EURGBP can still trade higher inside the zone before going down.

That's why we don't sell blindly, we always zoom in to lower timeframes and wait for the bears to take over.

on H1: Right Chart
EURGBP is forming a double top pattern but it is not ready to go yet.

Trigger => waiting for a momentum candle close below the gray neckline to sell.

Meanwhile, until the sell is activated, EURGBP can still trade higher.

Which scenario do you think is more probable and why?

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich