EURGBP Buy opportunity.
- On the monthly we see that the price is consolidating. The last monthly candle from April, left a clear bullish engulfing candle. It also respected the 0.786 fibonacci level, measured from the last low to the last high.
- On the weekly we see that the price pushed aggressively to the upside last weeks, and made now a pullback to the 0.618 fibonacci level.
- On the Daily we see that the price made an higher high, + trend is broken.
- Which level are we looking for? Weekly resistance 0.886
- Where is the stop loss? 0.858, below 4HR last low.
- When do we enter? - right now.
- Trade with extra low risk, and scale it up after new higher outbreaks on the 4HR or Daily. (daily is best.)
- On the weekly we see that the price pushed aggressively to the upside last weeks, and made now a pullback to the 0.618 fibonacci level.
- On the Daily we see that the price made an higher high, + trend is broken.
- Which level are we looking for? Weekly resistance 0.886
- Where is the stop loss? 0.858, below 4HR last low.
- When do we enter? - right now.
- Trade with extra low risk, and scale it up after new higher outbreaks on the 4HR or Daily. (daily is best.)
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