SIMPLE EXPLANATION SO EVERYONE CAN UNDERSTAND, EVEN BEGINNERS 👨🏽🏫
So, we are ridding EURGBP once again.🤯
After the delay of BREXIT deal, and the rejection of rate exchange to GBP last friday, the GBP dropped from its last 2 years high value, and after analysing the charts once again, I decided to go for a LONG once again, after banking +200 PIPS already.
So, Here we have the previous downtrend line (A), from the previous weeks. On last friday two weeks ago, we had a break-through (D), and a re-test on the new uptrend line (B), indicating that the pair was keen to go bullish. After a second re-test (E') on the last trading day of the last week, I decided to take this 80 PIPs chance by going LONG on this pair.
We might experience a litle retracment to the trend line again, thats why I've set my STOP LOSS a few PIPs below our previous LOW value (E').
Feel free to use this idea.💡
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