This pair reached the previous high from march 2015, a strong level of S/R On W1 chart we see a hidden divergence
Here on D1 chart we have and AB=CD pattern and the corrective triangle appears to be finished.
I expect some correction at this levels.
Best regards.
ความคิดเห็น
Mayfair_Ventures
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On the high to Low points (X to A) the pull-back hit the 0.86 to the Pip, So this is looking strong! Cheers.
FullTimeTrader
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Yes, it would be better to place the SL above the X point.
Mayfair_Ventures
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i have an SL of 1.5260 the risk is almost nothing to the break out. Looking good, just need the turn now!
Mayfair_Ventures
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could i ask, are you waiting on break through? channel or with such a small SL have you already made a short move?
FullTimeTrader
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Hello, personally i closed the position with some profits the next day because the price action seems to make a last impulse higher (false break or spike). We have also rate news for GBP this week and was already short on GBPAUD.
But im keeping an eye on this setup, its still valid. As i said, it would be safer to place the SL above the X point.
Regards.
Mayfair_Ventures
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i agree, i jumped in, down a little currently but a nice SL which isn't too far away. i think if it falls, it really will go. look at the SMI on a day and week also way over bought.
IvanLabrie
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Good!
FullTimeTrader
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Hello, this pair is negative correlated with the EURGBP, may be the big correction has already started.
IvanLabrie
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Hard to say, if it does happen I'll just short eurgbp and eurusd higher. As long as below the previous impulse smaller degree wave 4 isn't breached should be good.
FullTimeTrader
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Yes, we could have one more leg down on EURGBP, right now im long and so far with profits