EURGBP short entry for many reasons
Updated
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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