EURGBP reaching supply zone, trend recovery
Hello world,
unfortunately (probably) due to low market liquidity the current spread ranges between 6.9 and 10.8 pips.
Still, to keep this setup for later confirmation: here an idea.
EURGBP
Major trend (4h): Bearish
1H Trend (previous two day highs): Bearish
- 15 min supply zone hit
- increasing volume inside supply zone
- doji with huge candle on top
- 1MIN already made lower high (LH)
Entry: Right now.
Market already made lower high on 1MIN, which indicate the short term bullish trend has been broken.
Trade:
- 50% TP above next demand zone
- SL at above previous high wick
- 25% TP at low of next 15MIN demand zone
Exit:
- letting it run open (re-adjusting SL to trendline)
Risk Management: .5 %, position size adjusted to SL
unfortunately (probably) due to low market liquidity the current spread ranges between 6.9 and 10.8 pips.
Still, to keep this setup for later confirmation: here an idea.
EURGBP
Major trend (4h): Bearish
1H Trend (previous two day highs): Bearish
- 15 min supply zone hit
- increasing volume inside supply zone
- doji with huge candle on top
- 1MIN already made lower high (LH)
Entry: Right now.
Market already made lower high on 1MIN, which indicate the short term bullish trend has been broken.
Trade:
- 50% TP above next demand zone
- SL at above previous high wick
- 25% TP at low of next 15MIN demand zone
Exit:
- letting it run open (re-adjusting SL to trendline)
Risk Management: .5 %, position size adjusted to SL
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