EURGBP - Signals for a correction

FX:EURGBP   Euro / British Pound
230 7 5
There is a very strong downtrend going on in this pair, and I expect it to continue a bit more, until it hits or breaks the weekly support level that's coming. For the mean time, I expect a bounce, because price is extremely deviated from the Wave and the MACD histogram has drawn a bullish divergence . I have bought two lots, and I'm going to close them at the targets drawn on the chart. Stop at 0.79065.
10.07.2014 Closed half of the position close to first target. GBP rate is coming in half an hour, so I will have my stop really tight for the remaining position, with a sell stop for entering a short on this pair.
+1 Reply
ForceFollower vlad.adrian
I went short.
vlad.adrian ForceFollower
still in it right?
vlad.adrian vlad.adrian
15.07.2014 closed my second lot a bit below break-even
I agree. We are still in a downtrend. Look to sell on rallies.
+1 Reply
Yes, I agree with your levels.

vlad.adrian ForceFollower
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