Homework from the Foundation Lab session on 27/4 is to Set the pitch and find combo patterns in the over and under valued of the pitch on the EURGBP. Please post your analysis here, with a chart attached if you like and we’ll give you feedback on your work.
Hi Wendi, I am sooo sorry for the extremely long wait on the feedback of this homework! I really wanted to feed back on it though, even if it is late!
Let’s start with the pitch. I can see why you have put the ceiling where it is but I have one issue with it. There is no active reversal that reaches as high up as the basing action you have specified. It is a really good base but it just hasn’t got the confirmation with a reversal into it yet. I have set the ceiling of the pitch on the bar of the 16th of February, where you have identified a possible trading opportunity.
I am not quite certain where you have located the floor of the pitch, it isn’t quite clear on the picture. There is a problem with the EURGBP in that the current actual floor comes from late June 2016. I will show why in a lab.
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