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Euro / British Pound
Updated

EURGBP - What Goes up must come down - Short

309
This pair has broken out of an ascending channel. Grey box is the key level where price will probably retest the broken structure. Confirm rejection to short

Always apply money manaagement

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Trade active
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SL 0.86816
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Updating this at real time

Entry and SL shown on the chart.

PLAN A: Shorted at retracement (placed a sell limit order), and it spiked up. Strategically placed my SL if this doesn't work.

PLAN B: Would be to short at the Monthly Resistance - Psychological Rd No (where it would also touch the upper ascending trendline.

A more conservative approach is to short below the black dotted line
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snapshot
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Retracement was rejected at the 0.618 Fib level

snapshot

SL placed above
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snapshot

Minor rejection of the 4hr candle

In the red of 14 pips
Trade closed: stop reached
-100 pips SL (2 Positions)
-Andrew-
Ascending ChannelbrokenstructureEURGBPTrend Line Break

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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.
Ascending ChannelbrokenstructureEURGBPTrend Line Break
-Andrew-

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.