On the daily timeframe, EURGBP has formed a bullish pennant, signalling bullish pressure. However, until the trendline is broken, we may consolidate within the X, potentially forming a megaphone pattern.
As such, what we can do now is to sell the top X with a tight stop loss, once there's confirmation it breaks, we would switch to a buy for TP1,2 and 3. We can buy the bottom X with a tight stop loss as well, once there's a confirmation it breaks, we would switch to a sell for TP1,2 and 3 as well.
As such, what we can do now is to sell the top X with a tight stop loss, once there's confirmation it breaks, we would switch to a buy for TP1,2 and 3. We can buy the bottom X with a tight stop loss as well, once there's a confirmation it breaks, we would switch to a sell for TP1,2 and 3 as well.
Note
Currently holding onto the first sell position at the top of the XTrade active
Our sell position has successfully hit TP1 and TP2! We're shifting our SL to BE now to make it risk free!Trade closed: target reached
TP3 hit! And buy limit has been activated!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.