Open trading account 
hi traders and members community ..
first i'd like to say that weekly chart not suitable for trading decisions .. but it give us a good vision .
eurgbp weekly , there is a down trend channel and the price is near of low channel boundary .
of course we know that the best strategy during channel is - buy at low boundary and sell at high boundary -
The practical side :
i cann't open long position at weekly chart , almost traders cann't do this .
at weekly chart the best stop loss at 0.70132 and the current rate 0.72336 - 220 pips stop loss
of course it's high high stop loss but there some notes ;
1 - there is a strong weekly support as we mentioned before at 0.70132 .
2 - when we open eurgbp daily time frame we will find a new strong support level at 0.70597
3 - another new support at eurgbp daily time frame at 0.7195 .
i think the price try to finish the ranging through going up , and its suitable to move up from it .
and we will noiticed that the ranging period was happened at fibo 61.8 ..and the
ranging period was happend at historical support level - 25/5/2003 at 0.72601 -
if eurgbp move as we expect the target will be :
- high channel boundary
- target by time 15/5/2016
- fibo 61.8 target 0.81091.
and remember that using smaller time frame and suitable stop loss .and always search about the best .
thank u and good luck .
first i'd like to say that weekly chart not suitable for trading decisions .. but it give us a good vision .
eurgbp weekly , there is a down trend channel and the price is near of low channel boundary .
of course we know that the best strategy during channel is - buy at low boundary and sell at high boundary -
The practical side :
i cann't open long position at weekly chart , almost traders cann't do this .
at weekly chart the best stop loss at 0.70132 and the current rate 0.72336 - 220 pips stop loss
of course it's high high stop loss but there some notes ;
1 - there is a strong weekly support as we mentioned before at 0.70132 .
2 - when we open eurgbp daily time frame we will find a new strong support level at 0.70597
3 - another new support at eurgbp daily time frame at 0.7195 .
i think the price try to finish the ranging through going up , and its suitable to move up from it .
and we will noiticed that the ranging period was happened at fibo 61.8 ..and the
ranging period was happend at historical support level - 25/5/2003 at 0.72601 -
if eurgbp move as we expect the target will be :
- high channel boundary
- target by time 15/5/2016
- fibo 61.8 target 0.81091.
and remember that using smaller time frame and suitable stop loss .and always search about the best .
thank u and good luck .
