Introducing Technical Portraits ...a flow forecast for EURGBP over the coming sessions.
Lets start by digging into the daily chart we are currently tracking:
With last weeks 'progress' revised and the Queens Speech 'cleared' we can comfortably begin to buy the floor at 0.872x. This is strong support and will attract a lot of selling interest in GBP. We are going to use waves as an example to map the flows over the next few hours, I am tracking for an impulsive bounce from the current lows towards 0.96-0.98xx eventually with Brexit.
Remember we still have our infamous "flash crash zone to track"
The flows with exacerbate above 0.881x and cascade stops with shorts forced to cover their late positions. The dead money in the pot is there for the taking.
Let's see if we can get 100 likes to keep rolling these out.... Best of luck all those in EURGBP.
Lets start by digging into the daily chart we are currently tracking:
With last weeks 'progress' revised and the Queens Speech 'cleared' we can comfortably begin to buy the floor at 0.872x. This is strong support and will attract a lot of selling interest in GBP. We are going to use waves as an example to map the flows over the next few hours, I am tracking for an impulsive bounce from the current lows towards 0.96-0.98xx eventually with Brexit.
Remember we still have our infamous "flash crash zone to track"
The flows with exacerbate above 0.881x and cascade stops with shorts forced to cover their late positions. The dead money in the pot is there for the taking.
Let's see if we can get 100 likes to keep rolling these out.... Best of luck all those in EURGBP.
