EURGBP..!!
We are planing two possible trade setups for the EURGBP 0.27% . While the pair had reached the resistance level and failed to break the crucial S&R level for two consecutive trading sessions and formed double top pattern. What we are anticipating? is that the price will keep its consolidation to monthly trend line and make one more test to the recent top (S&R) area before falling to break the trend line in fashion. Now the pair is in a consolidation to reach the mid-nov 2k15 trend line .
TRADE NO.1
The first trading setup is short-termed.
CRITERIA FOR ENTRY: Entry while reaching the trend line or maybe beforehand confirmation of breaking out of the range with a candle close above the line and forming continuation correction to the upside.
TRADE ACTIVATION : Trade will be activated only when the price reaches the trend line and makes a breakout from the current consolidation zone to upside or early breakouts with confirmation. Read the LONG POSITION drawing for opening, closing and stop-out area.
TRADE NO.2
The second setup is long-termed and requires patients. The minimal time consumption for reaching all 3 T-P areas will not be less than 1 full month.
CRITERIA FOR ENTRY: For the aggressive traders a short small selling trade back to major trend line from the top area is worth 0.00% taking. Coming back to major long-termed trade entry the trade is only activated after trend line is broken and forming correction or trend continuation formation under the trend line .
TRADE ACTIVATION : position will be activated after break out of the correction under the trend line with stop loss placed above the major support and resistance area at the highest levels. Read the SHORT POSITION drawing for opening, closings and stop-out! rates.
SPECIFICATIONS OF TRADE SETUP :
1. BLUE PRICE LINES : POSSIBLE RANGING AREA.
2. ORANGE PRICE LINE : STOP-OUT! PRICE.
3. GREEN PRICE LINES : TP-1 TP-2 TP-3
4. GREY RECTANGLES : S&R AREAS AND CORRECTION AREAS. NOTE: ( RECTANGLES WIDTH SHOWS THE STRENGTH OR WEAKNESS OF S&R LEVELS.
TRADE NO.1
The first trading setup is short-termed.
CRITERIA FOR ENTRY: Entry while reaching the trend line or maybe beforehand confirmation of breaking out of the range with a candle close above the line and forming continuation correction to the upside.
TRADE ACTIVATION : Trade will be activated only when the price reaches the trend line and makes a breakout from the current consolidation zone to upside or early breakouts with confirmation. Read the LONG POSITION drawing for opening, closing and stop-out area.
TRADE NO.2
The second setup is long-termed and requires patients. The minimal time consumption for reaching all 3 T-P areas will not be less than 1 full month.
CRITERIA FOR ENTRY: For the aggressive traders a short small selling trade back to major trend line from the top area is worth 0.00% taking. Coming back to major long-termed trade entry the trade is only activated after trend line is broken and forming correction or trend continuation formation under the trend line .
TRADE ACTIVATION : position will be activated after break out of the correction under the trend line with stop loss placed above the major support and resistance area at the highest levels. Read the SHORT POSITION drawing for opening, closings and stop-out! rates.
SPECIFICATIONS OF TRADE SETUP :
1. BLUE PRICE LINES : POSSIBLE RANGING AREA.
2. ORANGE PRICE LINE : STOP-OUT! PRICE.
3. GREEN PRICE LINES : TP-1 TP-2 TP-3
4. GREY RECTANGLES : S&R AREAS AND CORRECTION AREAS. NOTE: ( RECTANGLES WIDTH SHOWS THE STRENGTH OR WEAKNESS OF S&R LEVELS.
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