Market Commentary: long EURGBP


sarfarajpatel

New Member
EURGBP 6-3.jpg

BUY - OPPORTUNITY (Some but not all criteria is met)
Entry = ~ 0.8675 (might change)
Stop = 0.8475 (200 pips)
Target = 0.9275 (600 pips)
Risk / Reward = ~ 3.0

Confirmed:
Weekly
1. Squeeze, MACD cross and WeisWave volume onside
2. Weekly in a channel so ignore EMAs

Daily
1. Squeeze, MACD cross and WeisWave volume onside
2. Closed above and about to retest 200EMA
3. This comes after a double bottom at channel base

Four Hour
1.Shaded histogram on MACD suggesting a return to bull market after a pull back
2. In the middle of a BCR on the 21EMA
3. Stop is below the 200EMA

One Hour
1. New support/old resistance
2. Pull back to 50% (confluence)
3. Squeeze, MACD cross and WeisWave all onside

Waiting for:

1. A BCR above the 50EMA on HOURLY chart
2. A B+C above the 8EMA on 4 HOUR chart

#DontFollowBlindly

***NFP ToDAY - be weary***
 

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