📈 Pair: EUR/GBP
🕒 Timeframe: 4-Hour
📥 Entry Price: 0.85112
🎯 Take Profit (TP): 0.86300 (approximate based on visual RR box)
🛑 Stop Loss (SL): 0.84786
🔍 Trade Setup Explanation:
Strong Support Zone: The price has bounced multiple times from the 0.84900–0.85000 support area, indicating buyer strength and market rejection of lower prices.
200 EMA Acting as Support: The blue 200-period EMA is providing dynamic support, aligning with the horizontal level and increasing the probability of a bullish move.
Bullish Reversal Candles: The recent bullish candles near support show strong buying interest, suggesting a shift in momentum.
EMA Crossover Potential: Price is testing the 50 EMA from below, and a break above could indicate a trend reversal or a deeper pullback.
RSI Confirmation: RSI has bounced from oversold levels and is now crossing above its signal line (moving average), signaling building bullish momentum.
💡 Summary:
This EUR/GBP long trade is supported by confluence of horizontal support, EMA dynamics (200 EMA support, 50 EMA pressure), and RSI bullish crossover. The setup offers a strong risk-to-reward profile with technical confirmation for a potential upside move.
🕒 Timeframe: 4-Hour
📥 Entry Price: 0.85112
🎯 Take Profit (TP): 0.86300 (approximate based on visual RR box)
🛑 Stop Loss (SL): 0.84786
🔍 Trade Setup Explanation:
Strong Support Zone: The price has bounced multiple times from the 0.84900–0.85000 support area, indicating buyer strength and market rejection of lower prices.
200 EMA Acting as Support: The blue 200-period EMA is providing dynamic support, aligning with the horizontal level and increasing the probability of a bullish move.
Bullish Reversal Candles: The recent bullish candles near support show strong buying interest, suggesting a shift in momentum.
EMA Crossover Potential: Price is testing the 50 EMA from below, and a break above could indicate a trend reversal or a deeper pullback.
RSI Confirmation: RSI has bounced from oversold levels and is now crossing above its signal line (moving average), signaling building bullish momentum.
💡 Summary:
This EUR/GBP long trade is supported by confluence of horizontal support, EMA dynamics (200 EMA support, 50 EMA pressure), and RSI bullish crossover. The setup offers a strong risk-to-reward profile with technical confirmation for a potential upside move.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.