Hello friends. I want to share today my plan for EURGBP. Can be traded upwards, but personally I’m only interested on short positions.
Possible in wave 4 or A. Some interesting levels, above price, missed monthly pivot and hit2021 yearly pivots. Below, the liquidity under equal lows, a GAP and 50fe of mother wave. Far away we have the missed yearly of 2016, when Brexit drama began….
Daily timeframe: development of wave 4 in an ABC with possible arrival to 127-161fe neutralizing the liquidity.
Let’s check how subwave C is behaving. We may need a correction to 0.8775-0.8918 sell area… makes sense.
How could we get there? We are having a complex correction, I didnt labelled the waves but I think you can easily count how price is flowing down in 5 abcs.
Check the liquidity above and below to predict next move… the $$$$ below was neutralized by a break of trendline in a Liquidity Run. They have the money, they can make the move when the feel like.
I will start selling when divergence is present inside the brown box with around 100 pips stop. Will share exact levels when we are there. ??