EURGBP - Possible Short term Buy

4 Okt 2022

price reaches an order block/demand area and forms a QM pattern (higher high and lower low). if price reaches the left shoulder level (fib retracement of 0.718 and 0.886 - best levels for premium or discount ), it could reverse and go bullish . Divergence also occurs at 30M and 1H tf that backs up the bullish behavior. The overall trend is now bearish after it hits a resistance trendline on a weekly tf. So if in case it goes up then it is just short-term.

This is just my analysis. I could be wrong of course.

9 Okt 2022

Catatan

On a 1H tf, plot fibs from 0.86663 to 0.87343,
the Discount Area 0.786 of fibs (0.86806) is fresh zone and if Price decides to go bearish and hit that level, I expect the price will flip either short term or long term.