EURGBP Long from 1.8700 Support 6% Potential

5. Mai 2020

Price sitting @ strong weekly support : 50 em & level of 1.8700
Daily holding support at 1.8700 from multiple days
4 hr strong low test candles @ support 1.8700
1hr pulled back for good potential R:R
Need to see confirmation on 1 hr and 4 hr of intraday support being held (deceleration/rejection) before entering long.

5. Mai 2020

Anmerkung

** DISCLAIMER* The content on this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting individuals to make independent trading decisions. Trading can be risky, make sure to use proper risk management!!
The analysis given out reflects my personal ideas and does not mean I personally take the trade, my preferred entry may never actually present itself.

6. Mai 2020

Anmerkung

Update: Very little momentum after price took off from 0.8700 yesterday.
Trade can be closed for breakeven as we can possibly see price come down to retest 0.8680 before moving back up. Which will also provide better R:R for the future.

13. Mai 2020

Anmerkung

EURGBP has perfectly played out to all 3 profit target levels as predicted.
We're sitting at 4 hr double tops, but the daily has a very strong bullish engulfing candle. We can see a potential push down from here. And then the next leg up to 0.8900 for 6.7 %.
Stoploses should be a break even long ago, allowing this trade to running risk free.

15. Mai 2020

Anmerkung

Price stalling around 4 hr highs. Closing trade at 0.885 would bank +5 % (150 pips) or taking partial profits and waiting to see if EG will continue pushing up. GBP looks like it could power up soon, causing EG to move down. Another option is we could still push into 0.8900 before moving down...

15. Mai 2020

Anmerkung

Very clean move from 0.8700 to 0.8900 as predicted.
Holding trade from bottom to top would have banked +6% in 1.5 weeks (in under 9 trading days)