EURGBP: Time to ladder in the BUY orders
Very interesting chart
The MA 21 (orange) acts as resistance
The MA 200 (blue) acts as support
We find ourselves in a falling wedge which
means we can expect Bullish movement.
However, since the RSI shows a Bearish
divergence and we got rejected by the local
resistance and top trend line of the wedge, my
thinking is that we will drop once more to the
support before exiting the wedge.
My strategy is to ladder in BUY orders
between Resistance and Support
The MA 21 (orange) acts as resistance
The MA 200 (blue) acts as support
We find ourselves in a falling wedge which
means we can expect Bullish movement.
However, since the RSI shows a Bearish
divergence and we got rejected by the local
resistance and top trend line of the wedge, my
thinking is that we will drop once more to the
support before exiting the wedge.
My strategy is to ladder in BUY orders
between Resistance and Support
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