EURGBP TRADE IDEA UPDATE
I’ve been stalking EG for the past few days and the time has come to short!
Our last high point on EG was sitting at 0.93243 with a long legged Doji, that indicates most times there will be a reversal in PA - but didn’t have any other technicals and confirmation to follow through with it.
Then we closed below the monthly key level 0.92441 and re tested and pushed down further - that’s where EG caught my attention, I drew all level at 0.91841 to mark out a possible H&S pattern and everything played out well to the T so fast.
H&S - 4hour support TL break and closure below, re tested 0.91841, bounced off towards support (neckline) 0.91034 and broke below, found 4hour / 8hour closure below and re tested, we also had a nice gravestone doji & bounced off the 50.00% fibs (0.91057)
All confirmation for downside.
I’ve been stalking EG for the past few days and the time has come to short!
Our last high point on EG was sitting at 0.93243 with a long legged Doji, that indicates most times there will be a reversal in PA - but didn’t have any other technicals and confirmation to follow through with it.
Then we closed below the monthly key level 0.92441 and re tested and pushed down further - that’s where EG caught my attention, I drew all level at 0.91841 to mark out a possible H&S pattern and everything played out well to the T so fast.
H&S - 4hour support TL break and closure below, re tested 0.91841, bounced off towards support (neckline) 0.91034 and broke below, found 4hour / 8hour closure below and re tested, we also had a nice gravestone doji & bounced off the 50.00% fibs (0.91057)
All confirmation for downside.