EURGBP making a retracement in a downtrend, looking for points to enter for a continuation.
Rising into a .382 retracement of a sharp break below structure, lining up with structure resistance.
Movement can be broken down into a Elliot wave major followed by abc retracement. abc makes a .382 retracement which suggests a 1.272 extension, *confluence with major .382 retracement*
Price could move a bit higher so I'm putting stops at another structure point lining up with 1.618 extension of retracement impulse.
Expecting price to touch major daily support again, doubtful it will break.
Rising into a .382 retracement of a sharp break below structure, lining up with structure resistance.
Movement can be broken down into a Elliot wave major followed by abc retracement. abc makes a .382 retracement which suggests a 1.272 extension, *confluence with major .382 retracement*
Price could move a bit higher so I'm putting stops at another structure point lining up with 1.618 extension of retracement impulse.
Expecting price to touch major daily support again, doubtful it will break.