hello guys,
what do you think about this EUroGBP H4 setup?
If you view the day chart it is waiting for a market direction to be singled.
The 4 Hr confirms that with that last candle, then the CCI is flat again waiting for the momentum direction from the market but is very close to a new bullish movement. and again with the Bands we are at the 2% deviation waiting on a decision.
Lastly a trader must consider the fundamental sentiment and upcoming news.
Anyway attached is my 4H chart of the EURGBP.
Epidit “You do not sell into support” that is a very interesting sentiment.
If the top of your bearish line is the demand zone because supply was exhausted
then going down the slope is supply running out
(however I trade the little pauses all the time as my entry points, so that would be a violation of your rule?)
Conversely, if it were a bullish trend resistance or demand zone, you would buy until demand is filled.
Am I looking at this S&D correctly?
Im not too sure of chart locations you refer to. I can answer if you could put your question on to the chart. You should never sell into demand or buy into supply. The trick is to locate unfilled areas on the chart which have as close to 0 supply demand zones in them allowing price to move more easily through it. And enter/exit on either side of that area. Ofcourse the smaller the TF you look at the more and more supply and demand zones you will find. This is why price does not always turn at the zones you expect. It may have turned on a different TF zone which you cannot see on your preferred TF. Giving prioirity to higher TF zones is all we can do along with only trading as fresh levels. It’s a probability zig zag game between Supply and Demand.
This is the chart I referred to.
Looks great, tight buy, tight t/p.
Eur/Gbp is a Brexit play so Brexit news will trump all TA regardless of candles, wicks or lines.
The next news that the market is looking for is an extension to the March29 deadline - a move for same by UK and acceptance by EU will be interpreted as a deal in the making.
Meanwhile news is back in the “tunnel” so it will be down to rumours and you know what the market does with those 
Almost looks predictable to me, it consistently moved towards resistance, and retracts back near support levels, just have to keep your limit and stops in place and play the movement…
Yes don’t misunderstand my reply. I also think price will rise off of this trend line but only until the supply level shown. You are free to buy off this trend line. But for me I trade in the direction of the higher time frame. So I wait for the pull back to supply and sell with the overall market movement which is down
Bit of clarification. For those whose see this drop in price as a good buying opportunity off the trend line. I would think again. This example is exactly why most people trade against the banks. If you are not looking at supply and demand you are running blind.
Here we go. If not a false break I would wait for price to retrace back into this lower supply zone and sell. If price pushes up through it I would be waiting with a sell order at the above supply zone.
looks pretty decent
