Technician
Long

EURGBP: Retesting Key Support

FX:EURGBP   Euro Fx/British Pound
746 22 7
Update: Trade is Active
Update: I will cut my losses short, close the trade before hitting stop as price break 0.8330 support level . Closing at market price 0.8315
Profit(pips)= 25x2=-50 pips
Accumulated Profit(pip)= 2666-50= +2616
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The EURGBP             has broken out of a major falling edge formation, and extended the upside to break the resistance and neckline for the double bottom pattern shown on chart. The price is retesting the neckline for the broken double bottom formation, after the 1.271 extension level managed to halt the rally.

I am speculating on the resumption of the bullish wave, looking to long EURGBP             targeting 1.271 extension again and the full target at the 1.618 extension at 0.8468 swing high and resistance level .

Wish me luck and follow me at :)

https://twitter.com/thefxchannel
thefxchannel.com
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Still Active Trades:
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Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;)
My trading ideas channel https://telegram.me/technician_forex_trades
https://thefxchannel.com
Skype: Technician - The forex channel
People was probably too afraid to see this double-top on 240-chart.
I hope you'll get your pips back.
My opinion for next weeks
snapshot
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The sixth commandment is the most important :D
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Agree.. If don't accept losses wont reach profits. :)
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I take profit
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I hope you do
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vaicru PRO Technician
just do it !
:)
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Really Good :)
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Update: I will cut my losses short, close the trade before hitting stop as price break 0.8330 support level. Closing at market price 0.8315
Profit(pips)= 25x2=-50 pips
Accumulated Profit(pip)= 2666-50= +2616
Reply
I'm in this trade too. Hopefully a negative retail sales figure to bring this Mighty Pound Down.
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