A possible head and shoulders to appear on EUR GBP. It is not completed. However, there is a Resistance level at 0.87 around. Further a rejection candle 2 days ago. It couldn't break through that level and close above. Set a SL above the wick on the rejcting candle. Good luck, if it breaks the 0.87 level the idea is void.
评论
Trader_Dale
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Thanks for your great analysis!
Here is my view on EUR/GBP if you are interested:
Based on Market Profile (volumes) and Price Action there are two very strong resist/support zones. If you look at the Cummulative volume on the right you can see two main volume areas. The higher one was formed by cummulation of short trades that went into a strong sell-off. If the price comes there again there is high probability that the sellers will become active again.
Support around 0.8544 is very strong because it lies exactly at at a place where the heaviest volumes of the day were created. From this place the price shot higher indicating strong buyers in this area.
If trading those levels be extra carefull and dont trade during strong GBP news.
If you are interested there are more Market profile swing and intraday analysis in my profile page. You are very welcome there!
Dale
Pimmixx
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@Trader_Dale Dale, your markup is great and made the way you draw it. Now it broke the ressistance area on the upside, to back up again to the downside. It took this huge red daily candle to break the support (that was prior resistance). The idea anyhow became void since it broke the resistance and on an intraday basis you wouldn't hold a position making a 150pip move until it reverts. If you had a swing you might have hold it - It might complete now the H&S but too late.
Here is my view on EUR/GBP if you are interested:
Based on Market Profile (volumes) and Price Action there are two very strong resist/support zones. If you look at the Cummulative volume on the right you can see two main volume areas. The higher one was formed by cummulation of short trades that went into a strong sell-off. If the price comes there again there is high probability that the sellers will become active again.
Support around 0.8544 is very strong because it lies exactly at at a place where the heaviest volumes of the day were created. From this place the price shot higher indicating strong buyers in this area.
If trading those levels be extra carefull and dont trade during strong GBP news.
If you are interested there are more Market profile swing and intraday analysis in my profile page. You are very welcome there!
Dale