Euro / SterlinaShort
EURGBP BEARISH TRADE SETUP
Hi Traders,
The EURGBP reversed from a resistance level and broke below a key support level with an impulsive move labeled wave A "blue."
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The price has completed a bearish ABC zigzag corrective pattern which retested the broken support that lined up with 38.2 - 50.0 Fib ratio and moving averages, labeled wave B "blue."
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Considering that price has broken out of the blue CTL, and Friday's candle closed as a bearish engulfing bar at our area of interest, this setup has met our criteria for short order.
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The price has the potential to move downward toward the 61.8 and 1.0 Fib Extension to complete the wave C of (Y) as planned on the chart.
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I wish you all a fantastic start to the week.
.
Veejahbee.
The EURGBP reversed from a resistance level and broke below a key support level with an impulsive move labeled wave A "blue."
.
The price has completed a bearish ABC zigzag corrective pattern which retested the broken support that lined up with 38.2 - 50.0 Fib ratio and moving averages, labeled wave B "blue."
.
Considering that price has broken out of the blue CTL, and Friday's candle closed as a bearish engulfing bar at our area of interest, this setup has met our criteria for short order.
.
The price has the potential to move downward toward the 61.8 and 1.0 Fib Extension to complete the wave C of (Y) as planned on the chart.
.
I wish you all a fantastic start to the week.
.
Veejahbee.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.