EURGBP Short
Direction: - Showed Bearish Momentum and Bearish Orderflow.
- Price came into H4 Bearish Orderblock and indicated on the M15 that the pair was going to drop in this OB.
Entry: - M (Double Top) Pattern Formation.
- Resistance off 200 EMA shown by the pins from the candles.
- Pins to the high also indicate that the current high of today was going to be held, and not broken.
- Divergence indicated pair was going to drop.
- RSI crossed volatility bands (Shark-fin) indicating pair was going to possibly drop.
- Volatility bands were squeezed and the MBL (Market Base Line) was pointing down. This indicates the pair was going to burst to the downside.
Exit: - 18 pip SL @ just above YH. YH (Yesterday's High) is a possibly resistance point.
- 32 pip TP @ just above YL. YL (Yesterday's Low) is a possibly support point.
Direction: - Showed Bearish Momentum and Bearish Orderflow.
- Price came into H4 Bearish Orderblock and indicated on the M15 that the pair was going to drop in this OB.
Entry: - M (Double Top) Pattern Formation.
- Resistance off 200 EMA shown by the pins from the candles.
- Pins to the high also indicate that the current high of today was going to be held, and not broken.
- Divergence indicated pair was going to drop.
- RSI crossed volatility bands (Shark-fin) indicating pair was going to possibly drop.
- Volatility bands were squeezed and the MBL (Market Base Line) was pointing down. This indicates the pair was going to burst to the downside.
Exit: - 18 pip SL @ just above YH. YH (Yesterday's High) is a possibly resistance point.
- 32 pip TP @ just above YL. YL (Yesterday's Low) is a possibly support point.