Trying to predict the smart money's next move UP - EURGBP

We can already see that the pair has already completed 2 distribution phases and we are now anticipating the 3rd and final phase. After a strong move up we can expect some consolidation where bulls will be seeking to lock in some profits driving the price somewhat lower (RSI oversold on 4H + 1H + 15M) during the Asian session. We can then expect smart money's techniques to come into play as always where they will attempt to stop out any sellers selling at a potential break downwards of the previous broken structure, before buying back up and reach a potential 100-115 pip target.

My 20 cents, I'm not a prophet just trying to look beyond just technical analysis. After all it's the smart money, the big institutions, that move and manipulate the markets in whichever way they want.

Commentaire:

typo...should say *Overbought NOT Oversold

Trade fermée: cible de profit atteinte