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Forex · price-structure setup

Support bounce on EUR/GBP

On EUR/GBP the support bounce showed up 21 times. The target came first 14% of the time, the stop 76%, and 10% went nowhere within 12 candles.

Counted on EUR/GBP: daily candles from January 2015 and hourly candles from October 2024.

By timeframe

TimeframeFoundTarget firstStop firstWent nowhere
Daily540%60%0%
Hourly166%81%12%

EUR/GBP against the rest

ChartsFoundTarget firstStop firstWent nowhere
EUR/GBP2114%76%10%
All Forex charts17529%61%10%
Every market2,91035%56%10%

The last 8 times

Counted by the Trading Class research engine on real past candles: entry at the signal candle's close, target 1.5 × ATR(14), stop 1 × ATR(14), 12 candles to decide, a candle that touches both counts as the stop. How we count. Past data, not a forecast and not advice.

What the support bounce is

Price fell back to a level that stopped it before, and bounced again.

Drop a ball and it bounces off the floor. Support is a price floor where falls stopped before, because buyers were waiting there. A support bounce is when price comes back down to that floor and bounces up again.

The full support bounce lesson, video and quiz ›

Other patterns on EUR/GBP

Inside bar · Stochastic bearish cross · Stochastic bullish cross · Spinning top · Doji · MACD bullish cross · MACD bearish cross · EMA 9/21 bearish cross · EMA 9/21 bullish cross · RSI overbought drop · all of them

The support bounce elsewhere

USD/CHF · Ethereum · Bitcoin

Questions

How often does the support bounce work on EUR/GBP?

In 21 cases on EUR/GBP, the target (1.5 × ATR) came before the stop (1 × ATR) 14% of the time and the stop came first 76%; 10% went nowhere within 12 candles.

What is the support bounce?

Price fell back to a level that stopped it before, and bounced again.