Reply To: Trade opportunity?
Hi troops,
Battleplan for tomorrow 🙂
Selling EURGBP to 0.70447, My reasons are that it has double topped (give it a google and you will see plenty of information about it) at the trendline which can often mean a reversal, it has then broke structure at around 0.71089 and to further add to this has then went into a wedge continuation pattern, the pattern has taking its place up at that 0.71089 level to use as support. (http://www.investopedia.com/university/charts/charts7.asp). Reading about these I often hear that they are longer term patterns, but i see them working in smaller time frames all the time if they have other structure etc around them.
Will do the rest of my planning tomorrow,
Cheers 🙂
Lewis