By Admiral Markets
The EUR/GBP has recently made an upside breakout from the PPR channel, signaled by a strong Marubozu candle that could provide a continuation of uptrend towards 0.8950 and 0.8980. However, traders need to pay attention towards possible retracement as I showed in High Volatility trading video that is a part of Price Action Trading School. 0.8880-90 is the POC zone (D H4, order block, 61.8, ATR pivot, trend line) but also pay attention to 0.8906 that could reject the price too. As lons as the EUR/GBP is above 0.8850, we have a strong intraday/week uptrend.
W L3 – Weekly Camarilla Pivot (Weekly Interim Support)
W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
PPR – Progressive Polynomial Channel
AP -Andrew’s Pitchfork
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)
Follow @TarantulaFX on twitter for latest market updates
Sign up for Live Trading Webinars with Nenad Kerkez T
Connect with Nenad Kerkez T on Facebook for latest market update
Article by Admiral Markets
Source: EUR/GBP Strong Marubozu Candle Cues for Continuation
Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.
