Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
As per my previous EURGBP idea, highlighted on the chart, we will be looking for sell setups as price approaches the green resistance zone.
on H1: EURGBP is forming a channel in red but the lower trendline is not valid yet.
So we will be waiting for a third swing to form around it to consider it our trigger swing.
Trigger => waiting for that third swing to form and then sell after a momentum candle close below the gray zone.
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
As per my previous EURGBP idea, highlighted on the chart, we will be looking for sell setups as price approaches the green resistance zone.
on H1: EURGBP is forming a channel in red but the lower trendline is not valid yet.
So we will be waiting for a third swing to form around it to consider it our trigger swing.
Trigger => waiting for that third swing to form and then sell after a momentum candle close below the gray zone.
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
This analysis is done using RichTL
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal