Nico.Muselle
Short

EURGBP - Structure and Fibonacci Cluster indicating a move down

FX:EURGBP   Euro Fx/British Pound
Based on structure we can see a down trend in this pair as we are creating Lower Highs and Lower Lows
We are now at the point where the previous high is tested. Also at this level we have a nice fibonacci cluster of the last 3 moves down. All of this for me points in the direction that the pair will move down.

Entry : 0.7165
SL : > 0.7200
Target : 0.7060

Potential risk : +- 35-40 pips
Potential profit : +- 100 pips
Reward-Risk : > 2.5
Trade active: Stops rolled to break even
Comment: Stops moved to 0.7140
Comment: Stops moved to 0.7110, just a few more pips to go to the target.
Trade closed: target reached: Target reached, trade closed for +109 pips
Very nice TCT Nico
+1 Reply
really? have you ever heard recent news about gbp?
Reply
it will just move up up up.
Reply
Trust me, the words "it will" and Forex don´t go well together :)
+3 Reply
That profit target is very optimistic in my opinion.
I don't think it'll go that far down, but an initial pullback on that strong up move after "super Thursday" is warranted.
I'd say TP at 0.712.
+1 Reply
Lekker bezig!
+1 Reply
Very nice looking trade
+1 Reply
Thanks Akil ! :)
Reply
Awesome trade!
+1 Reply
Thank you sir ! :)
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thanks nice analysis
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Looks like a bat pattern might be completed around your Target

snapshot
+2 Reply
that was nice, wish I'd seen it earlier :)
+1 Reply
Thanks ! :)
Reply
Nico, the king ~ Horray ~
+1 Reply
LOL
Reply
Perfeito! :-)
+1 Reply
Just lucky that the market went the way I expected it to ... ;)
Reply
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