Technician
Long

EURGBP: Retesting Key Support

FX:EURGBP   Euro Fx/British Pound
745 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 :)

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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 ;)
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Barabaszek
2 years ago
Waiting for entry.Good Luck.
Reply
vaicru PRO
2 years ago
I go short .
Good Luck
Reply
fxdtrade
2 years ago
entry levels?
Reply
Technician TOP fxdtrade
2 years ago
Provided at the chart
Reply
This is active now
Reply
Barabaszek
2 years ago
Working.GL.
Reply
fxdtrade
2 years ago
do you still thinking that is a long trade?
Reply
Technician TOP fxdtrade
2 years ago
Already in the trade and stop loss in place.
Reply
fxdtrade Technician
2 years ago
thanks
Reply
HexVex
2 years ago
1230 GMT Currently testing 0,83300 - UK data out tomorrow and Fri but at this level I've got a hard on for a long. However there is a general GBP recovery across the board vs the vikings in the lead. Whatcha think?
Always appreciate your work btw! Good luck to you! I'd love to give back too. Just not ready yet.
Reply
Technician TOP HexVex
2 years ago
Thanks Kerim, Yeah i am a bit surprised of the GBP recovery, despite the recent slowdown in data, inflation.. Anyhow, its a technical shot, it may work or not, at important thing to keep stops tight aim for profits on the long run. Good luck to everyone.
Reply
FaultyKid
2 years ago
I'm in this trade too. Hopefully a negative retail sales figure to bring this Mighty Pound Down.
Reply
Technician TOP FaultyKid
2 years ago
Hope so :)
Reply
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
vaicru PRO
2 years ago
:)
Reply
vaicru PRO vaicru
2 years ago
I take profit
Reply
Technician TOP vaicru
2 years ago
I hope you do
Reply
vaicru PRO Technician
2 years ago
just do it !
:)
Reply
Technician TOP vaicru
2 years ago
Really Good :)
Reply
Mirandole
2 years ago
The sixth commandment is the most important :D
Reply
Technician TOP Mirandole
2 years ago
Agree.. If don't accept losses wont reach profits. :)
Reply
Mirandole
2 years ago
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
Reply
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