Trade 0004 -EUR/GBP Short Setup: Targeting Lows
Good morning, Traders,
As we begin a new week, the EUR/GBP pair appears to be setting up for a short position. This will be trade number 4 in my journey towards completing 1,000 trades. On the daily and weekly Timeframe, the pair is forming clear lower lows and lower highs. Currently, we are observing a potential drop from 0.84250, with our target set at the recent lows. This trade offers a risk-to-reward ratio of 3.83, making it a worthwhile opportunity.
This setup involves a straightforward break and retest entry. While I have some hesitation around the 0.84200 level, I still expect the price to decline based on the higher timeframe market structure.
Best regards,
Renaldo Philander
As we begin a new week, the EUR/GBP pair appears to be setting up for a short position. This will be trade number 4 in my journey towards completing 1,000 trades. On the daily and weekly Timeframe, the pair is forming clear lower lows and lower highs. Currently, we are observing a potential drop from 0.84250, with our target set at the recent lows. This trade offers a risk-to-reward ratio of 3.83, making it a worthwhile opportunity.
This setup involves a straightforward break and retest entry. While I have some hesitation around the 0.84200 level, I still expect the price to decline based on the higher timeframe market structure.
Best regards,
Renaldo Philander
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.