Will We See EURGBP rally up to weekly Resistance?
EURGBP – Yesterday we saw the formation of a doji on a 20ma support level on the daily. As it stands this morning, price is trading higher then yesterdays close and the matrix is pretty much all blue. However, the matrix clearly shows us that price is trading below the 200ma on both the 30 min and weekly.
Therefore by dropping down to the 30 minute and placing a resistance line at the level of the 200ma and then doing the same with the weekly, we all of a sudden have both and entry and an exit point – trading between these two 200ma levels.
Remember that you can drop down to the 30 minute in this case and wait for the close higher on this time frame, ensuring that the strategy meets the criteria and indicators back up the move.
Strategy: Serene Education’s FX Ultimate8 Strategy
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