Dear trader,
I leave you a little description of my technical analysis about eur/gbp for the next swing period cause I think the zone where we now are is a good bearish opportunity. Why?
In weekly timeframe we in a Range, the price is about at the medium level of the range, in Daily tf we can see the bearish resistance upside and the momentum we had in the last week was powerful bullish, that means interest. Interest from the bigs to catch the price or to take the best price movement.
Intuitive trading: I ask my self where I would more like inclined to sell.
I look at the past, I saw on 4 Feb 2021 a Bearish engulfing breaking 0.87850, where we now are.
Again, the bearish momentum caused by institutional on that date, possibly are ready for the next bearish move, cause the large amount of liquidity with which they broke the level 0.87850.
Let now see this week how it ll go after major news we have about eur and gbp and waiting for structure confirmation in lower time frames (H1/30m/15m).
Worst case scenario: Bullish tp 0.89200, aka the next liquidity point $
And if you ask yourself why you can't see well the candles in my analysis, is because to read the market you need to know where the liquidity is.
Have a great week.
Ian
I leave you a little description of my technical analysis about eur/gbp for the next swing period cause I think the zone where we now are is a good bearish opportunity. Why?
In weekly timeframe we in a Range, the price is about at the medium level of the range, in Daily tf we can see the bearish resistance upside and the momentum we had in the last week was powerful bullish, that means interest. Interest from the bigs to catch the price or to take the best price movement.
Intuitive trading: I ask my self where I would more like inclined to sell.
I look at the past, I saw on 4 Feb 2021 a Bearish engulfing breaking 0.87850, where we now are.
Again, the bearish momentum caused by institutional on that date, possibly are ready for the next bearish move, cause the large amount of liquidity with which they broke the level 0.87850.
Let now see this week how it ll go after major news we have about eur and gbp and waiting for structure confirmation in lower time frames (H1/30m/15m).
Worst case scenario: Bullish tp 0.89200, aka the next liquidity point $
And if you ask yourself why you can't see well the candles in my analysis, is because to read the market you need to know where the liquidity is.
Have a great week.
Ian