Closing the Gap on EUR/GBP
In this trading setup, I aim to capitalize on the potential for closing the price gap on the EUR/GBP pair by using key pivot points and support/resistance levels. Here's the plan:
Buy Limit at Pivot Point (PP):
Entry: Buy at the Pivot Point (PP).
Take Profit: 0.84630
Take Profit 2: 0.84890
This trade aims to capture the bounce off the PP and the move up to R1.
Buy Limit at Support 1 (S1):
Entry: Buy at Support 1 (S1).
Take Profit 1: 0.84380 (Pivot)
This trade aims to capture a deeper retracement to S1, expecting a reversal up to PP.
Sell Limit at Resistance 2 (R2):
Entry:0.84890 (R2).
Take Profit: 0.84630 (R1)
This trade anticipates a rejection from R2, capitalizing on a potential downward move from this resistance level.
This strategy leverages key technical levels to position for potential market movements, aiming to close the price gap and capture gains from both upward and downward price actions.
Buy Limit at Pivot Point (PP):
Entry: Buy at the Pivot Point (PP).
Take Profit: 0.84630
Take Profit 2: 0.84890
This trade aims to capture the bounce off the PP and the move up to R1.
Buy Limit at Support 1 (S1):
Entry: Buy at Support 1 (S1).
Take Profit 1: 0.84380 (Pivot)
This trade aims to capture a deeper retracement to S1, expecting a reversal up to PP.
Sell Limit at Resistance 2 (R2):
Entry:0.84890 (R2).
Take Profit: 0.84630 (R1)
This trade anticipates a rejection from R2, capitalizing on a potential downward move from this resistance level.
This strategy leverages key technical levels to position for potential market movements, aiming to close the price gap and capture gains from both upward and downward price actions.
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