FYNTEK | New Eden Investments -> GBPUSD SHORT
Updated
GBPUSD
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Our first actual opportunity on the market with a GBPUSD short based on a fibonacci retracement and a key level. The ema is lining up nicely. Ideally we would want to short on the 61% fib. Will keep you updated which play to take. taking the 50% fib seems to be very aggresive, so awaiting the 61% might be handier.
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Our first actual opportunity on the market with a GBPUSD short based on a fibonacci retracement and a key level. The ema is lining up nicely. Ideally we would want to short on the 61% fib. Will keep you updated which play to take. taking the 50% fib seems to be very aggresive, so awaiting the 61% might be handier.
Note
With this aggressive movement upwards and nearly close of London session the 61% fib would seem more appealing. However if your risk appetite allows it, feel free to take the 50% fib with the local high.Trade active
Now reached the 61.8% fib level. Tight stop with the very bullish pound. This is now considered an aggresive short due to the fundamental strength of the pound sterling.Note
Now running +30 pips, on a 1;1 RR.Trade active
Running 2 RR at 60 pips now. Mitigating losses and closing half the position to secure 1 RR and letting the rest run.Trade closed manually
Full profit taken here at 80 pips. 2.5 RR.Trade closed: target reached
4.05 RR reached.
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