EURGBP is overall bearish and approaching the upper brown trendline so we will be looking for Trend-Following Sell Setups
As per my trading style/plan;
Here are the two strong zones where I will be looking for high probability buy setups:
I call them War Zones, (highlighted in Purple circles)
Zone 1: (around 0.85)
This highlighted purple circle is a strong area to look for sell setups as it is the intersection of the green resistance and upper red trendline. (acting as non-horizontal resistance)
Zone 2: (around 0.83)
This highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support and lower red trendline. (acting as non-horizontal support)
As per my trading style:
As EURGBP approaches one of the purple circles, I will be looking for reversal setups (like a double bottom /top pattern, trendline break , and so on...)
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
