which would give us the typical overthrow. The risk is not much larger to
sell at the top of the hours or so if this remains a .
Stops are somewhat debatable depending on your risk tolerance, if
we do get the ED overthrow of the .
(As I type the is forming a gravestone "doji".)
Best of luck !!!!!
If this works as planned it should actually go as low as @ ,8350 area and do it in 3 waves.
Watch and wait to see how "brilliantly" he,, he,, he ,,,, this set up produces profits.
(second thoughts has me thinking I should have place the 1 on the next swing high to the right)
(but the results should be the same, win or lose)
(of course, that makes the 3-3-3-3-3 of this ED even more debatable sooooooo . . . )
great looking set ups. Ho! Ho! Hoooooo!
The sharp reversal has left stop placement a bit high as it could go all
the way back and test the trend line.
I think I'll take 1/2 off here @ +60 pips and let the rest go for .8350
with stops @ +13
BUT, with the Fed in such an unprecedented situation I think I'll invoke a little bit of Shakespheare and fall back
upon the phrase " Discretion is the better part of Valor".(from Henry IV)
Moving stops to .84169 and if this gets anywhere near .8383 I'll close
the balance of this trade for +80 pips.
Perhaps price action will provide an entry for another leg down.
No telling what the knee jerk reaction will be, however,
the odds favor a move upward before another leg down.
Why give back 20 pips for nothing - my stops do not seem too smart
at the moment - just above the .382 fib.
Closing 2nd half of the trade for +68 pips
60 pips in the EurGbp in only 24 hours is decent return.
After the dust settles, perhaps another entry will appear.