After breaking out of last weeks ascending triangle the EURGBP is offering a second opportunity for those looking to get long in a form of a retest of the pattern. We close with a decent candlestick combination so for an aggressive trader this could be an order that gets executed on the open.
Projections higher are based mainly on a 1 to 1 measured move (ab=cd pattern) and the use of the Fibonacci extension tool. There is a level of structure looking left but nothing too significant in my eyes.
For a video walkthrough of this setup please watch my youtube video titled "TRADING LESSON - How To Project Profit Targets" starting at the 8:20 mark
I hope you guys enjoy your weekend!
Akil
Projections higher are based mainly on a 1 to 1 measured move (ab=cd pattern) and the use of the Fibonacci extension tool. There is a level of structure looking left but nothing too significant in my eyes.
For a video walkthrough of this setup please watch my youtube video titled "TRADING LESSON - How To Project Profit Targets" starting at the 8:20 mark
I hope you guys enjoy your weekend!
Akil
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