TradingEW
Long

EURGBP trading between Fib ratios

FX:EURGBP   Euro Fx/British Pound
118 6 3
Experimental trade with small position size, between Fibonacci ratios, allowing tight initial SL and maximizing R/R.
Keeping a running trade journal in following comments:
Stopped out and re-entered long, holding for Fib retracement target.
Moved SL to invalidation @ break of lower channel line.
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Revised wave count with price touched on 0.6182 x (iii) Fib retracement.
Exit long. Now setting up short for wave (v) down.
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Longer term 4h chart:
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Entered short @ 0.70827, SL @ invalidation 0.7095 if breaking upper channel line.
Medium term target bottom of projected wave iii. R/R 9.01
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Excellent TA
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TradingEW IceTrading
Thank you!
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