View: Bullish on EURGBP
Trigger: When all 4Hr SMA’s (10/20/50/100/200) crossover in perfect alignment:
10SMA>20SMA>50SMA>100SMA>200SMA (4hr candles)
You can see this on my charts as follows:
10 SMA: Red
20 SMA: Magenta
50 SMA: Plum (marked with a Red Cross on the last chart to indicate SL)
100 SMA: Lime Green
200 SMA: Blue
Trade: Buy EUR/GBP at current price 86.09
Stop Loss: 50SMA, trail price as it moves towards target price and gradually move SL to Break Even for a zero-risk trade profile.
Target: 87.09 for a 1:1 risk/reward in the region where MR2 (0.87176), WR2(0.87138) and the 0.87 ‘psych’ level are confluent.
Max gain: 100pips
Max Loss: 100pips
Breakeven: 0.8609 or entry price
This is my EURGBP trade plan.
May the pips be with you!