EURGBP - 4H TF- Wedge Pattern
Trade Idea for EURGBP:
SHORT SIDE:
Price is currently squeezing into a wedge formation off the 4 hour time frame. Creating lower highs from the top and higher low from the bottom give me the wedge pattern. Price bounced of the 4h up trend line/Demand Zone. If price rejects previous BOS and give us the reversal bearish candle stick signal. The red arrows indicate areas where I will be looking for indication for price to go bearish.
LONG SIDE:
If price breaks out of the wedge bullish and can retest/reject the current major resistance, I will look for indications for price to go bullish.
Will be waiting for more volume into London & New York Sessions for potential entries.
SHORT SIDE:
Price is currently squeezing into a wedge formation off the 4 hour time frame. Creating lower highs from the top and higher low from the bottom give me the wedge pattern. Price bounced of the 4h up trend line/Demand Zone. If price rejects previous BOS and give us the reversal bearish candle stick signal. The red arrows indicate areas where I will be looking for indication for price to go bearish.
LONG SIDE:
If price breaks out of the wedge bullish and can retest/reject the current major resistance, I will look for indications for price to go bullish.
Will be waiting for more volume into London & New York Sessions for potential entries.
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