2015-10-26_20-03-15eurgbp

Again every chart paints a picture. The art for every trader is to see what works best for him and to take action to achieve his goals.

If you like to counter trend then a simple set up might be a double or tripple bottom.

This one was easy to see because it was a tripple one and used the MS1 pivot for support.

You are going in fact against the 200 moving average but you are buying at support.

If you just prefer like me to take high probability trades in favor of the 200 ma then you could have traded the 123 pattern to the left of the tripple bottom.

BEST OF PIPS

2 thoughts on “Tripple Bottom on the EURGBP Pair”

  1. Arthur Noonan says:

    You don’t mention in your piece that the chart is a 5-min chart … not traded by that many people.
    Further, the whole Forex.Today email was about 10 trade ideas for today (Tue 27oct15). Yes, I did get the email at a very early hour ~4AM, but since the trade idea you posted happened 18 hours prior, I don’t see the point and neither do I see the usefulness – the trade is gone and at best is of historical interest only.
    Am I missing something?

    1. Nuno Lampreia – Forex.Today says:

      Hi Arthur,
      The purpose is for you to be able to spot similar setups when you day trade by yourself.
      You will se repeatable pattern ocurring on your charts quite often.
      I dont want to tell you when to trade but share how to fish by yourself.

      BEST OF PIPS

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