Dear Trading Idea Traders

Last week we did not have a lot of trading signals. There was a pin bar that formed on DAX on Friday, but I missed it. Today, I am looking at the EUR/GBP pair. There you can see a small retracement and a bearish rejection after this retracement. It is a daily pin bar that formed on Friday and now is giving a green light for more new buyers. On top of that, the pin bar formed on a support level, which reconfirms the strength of this signal. The intraday time frames are giving me more conviction that this is a bullish signal.

If you are to enter in a long position, my entry parameters would be: Long at 0.7325 with a stop loss just under the level of 0.7260. The first price target is the level of 0.7380. The second price target is the level of 0.7425.

 

Happy Trading,

Colibri Trader

 

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