EURGBP Short
Direction: - The pair is in a Bearish Order Flow and had Bearish Momentum.
- The pair was in a Bearish Cycle and respected the H4 OB's (Order Blocks).
Entry: - M (Double Top) Pattern Formation.
- Divergence occurred on the M15.
- RSI crossed volatility bands (Shark-fin), indicating a rise in the pair.
- RSI above the 68 indicating the pair was overbought.
- 200 EMA showed resistance on the pattern.
- High held for multiple hours indicating it will not be broken. Pins to 200 EMA also indicate it will not be broken.
Exit: - 20 pip SL @ above high.
- 27 pip TP 1 @ just above YL (Yesterday's Low).
- 42 pip TP 2 @ RSI, Signal Line Cross, indicating exit of the trade.
- RSI below 32, indicating pair has been oversold. This is another confirmation to exit the trade.
Direction: - The pair is in a Bearish Order Flow and had Bearish Momentum.
- The pair was in a Bearish Cycle and respected the H4 OB's (Order Blocks).
Entry: - M (Double Top) Pattern Formation.
- Divergence occurred on the M15.
- RSI crossed volatility bands (Shark-fin), indicating a rise in the pair.
- RSI above the 68 indicating the pair was overbought.
- 200 EMA showed resistance on the pattern.
- High held for multiple hours indicating it will not be broken. Pins to 200 EMA also indicate it will not be broken.
Exit: - 20 pip SL @ above high.
- 27 pip TP 1 @ just above YL (Yesterday's Low).
- 42 pip TP 2 @ RSI, Signal Line Cross, indicating exit of the trade.
- RSI below 32, indicating pair has been oversold. This is another confirmation to exit the trade.