TerryHarmonicTrading
Long

EURGBP - ABCD off ED channel buy

FX:EURGBP   Euro Fx/British Pound
Hey guys, having a great run this week on my trades. Be sure to check out my 200 pips beauty for EURCAD             .

Next up, have just entered long on EURGBP             at around 0.8620.

Stops will go at 0.8580 with TP at 87.

This is an ABCD pattern off the highs with H4 ED channel support.

Will keep you guys posted. :)
Trade active: Holding it to 87.

Shifted stoploss to 0.8621 to make it a risk free trade
Trade active: Hit protective sl.
Re-entered again at 0.8630 on a m15 bat pattern.

Target @ 0.87
SL @ 0.8580
Hi Terry, hope u r doing well. GBP is waiting for Friday UK's results. It might get stronger so better not to hold Long position too long. Its likely to fall to 85 and 84.5
Reply
Hi Njvest, thanks for the heads up on the news, didn't know about it.
Was out the whole day and didn't see this from you.
Luckily price has bounced up and I have protected my position. :)
What trades are you on currently?
Reply
Njvest TerryHarmonicTrading
Hi Terry, I have GBP/AUD and GBP/USD - both Long. Not much trading these days bcoz my Uni papers r due in this month and I am writing my projects.
If UK's GDP comes out less then expected then ur target might get hit, before news I normally remove my SL if I am confident about direction then make a decision later based on daily candle close either take a loss or keep it running. I know its not really ideal tactic but helped me few times not to get stung by market manipulation. I think its best to put ur SL on break even in ur case.
Reply
all the best for your papers!

Thanks for the suggestions, already protected my position, happy to live with it.

You know how many hours more before the news is out?
Reply
Njvest TerryHarmonicTrading
Thank u Terry, Its out by 09:30 am, London time. I normally check forex news on following website:

http://www.investing.com/economic-calendar/

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