W33 - EURGBP [EUR HEDGE] dr 65

9 באוג׳ 2020OVERVIEW

equal in:

• EURAUD
  
• EURCAD

weakness of EUR in:

• EURCHF
  
• EURJPY
  
• EURNZD
  
• EURUSD

strength of EUR in:

• EURGBP

OVERALL FOCUS ON EUR: buy this currency
OVERALL FOCUS ON GBP: buy this currency
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WEEKLY:

Target zone reached multiple times. Extremely bullish, unfortunately only weak bearish structure. Missed the correction levels just barely, so there are still lots of buyers in this market, although we're nearing the ATH.

2h:

No structure in this market. We hope that this market goes down to activate more bearish structure.

30m:

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WHAT DO WE WANT?
Remember that this is only to hedge. It looks extremely unstable, almost no structure. The 30m shows a promising reentry scenario at the whole correction level of the only bearish sequence we have. This whole correction level is necessary, since this sequence has an impulsive A, impulsive B and a corrective C which failed with the first reentry and created a higher high instead of a lower high or finishing the sequence. Also, the whole correction level overlaps with the target levels of the weekly sequence (red) and the opposite correction levels (blue).
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DECISIONS
risk vs. profit: (-- / - / 0 / + / ++): --
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Neither the analysis described here, nor my updates are financial advice and should not be treated as such. They merely represent my ideas by applying the system I learnt from Stefan Kassing and are my interpretation of the system with certain tweaks.
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