Hi traders,
On the EURGBP I am looking for a short entry. It has been going up a lot lately. Too much in my opinion. What this usually means is that price will retrace a a bit to regain some power.
Reasons for my short entry:
Entry: 0.8055
Stop: 0.8116
Target 1: 0.7885
Target 2: 0.7765
Best of luck!
On the EURGBP I am looking for a short entry. It has been going up a lot lately. Too much in my opinion. What this usually means is that price will retrace a a bit to regain some power.
Reasons for my short entry:
- Previous support & resistance
- Completed AB=CD pattern (see below in comments)
- 161.8 fib extension of the recent swing (see below in comments)
- 127.2 fib extension of the recent swing (see below in comments)
- Trendline
- 61.8% fib retracement
- 38.2% fib retracement
Entry: 0.8055
Stop: 0.8116
Target 1: 0.7885
Target 2: 0.7765
Best of luck!
Trade active
Trade closed: target reached
Both targets hit.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.