Hello Traders, I’m Mani and I’m the writer of Trade 77 section, please follow me on twitter for further updates.
Today’s morning technical idea is for EURGBP.
Price has rejected from the 20sma in weekly chart and also 61.8 Fibo level. I like this trade and I’m looking for good long entries in smaller timeframe.
In the H4 chart above there is a short-term resistant line at 0.8550 and price is struggling to break it now.
I like it to break that resistant and then a retrace to retest it again and I will go long there.
Profit targets are 0.8635, 0.8700, 0.8840.
In the other hand, wait for a bearigh H4 candle that closes clearly below 0.8550 and go short there for 0.8500 and 0.8450 as profit targets and stop above 0.8565.
Make sure that you are following me on twitter so you can be informed of any trade calls for this pair and if you found this post useful let your followers to read it too, so please retweet this article with the button above of the article.
Latest posts by admin (see all)
- Using Simple Moving Averages to clarify the Forex Market - November 13, 2017
- The Huge Benefits of Being a Scalper - November 6, 2017
- The ADX Methodology for Analysis, the Strengths and Values - November 4, 2017
Winner’s Edge Trading, as seen on: