fxstudent299
Short

Short EURGBP – getting into downtrend on retracement

FX:EURGBP   Euro / British Pound
63 0 1
Trading idea on 4h chart:
Short EURGBP             – getting into downtrend on retracement
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Trading idea: limit sell order at 0.7395, Risk-Reward = 3.2
SL@ 0.7445 (-50), TP@ 0.7235 (+160)
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- EURGBP             is in a strong downtrend on monthly, weekly and daily charts ->only short positions
- volatility is high on 4h and 1h charts and expected to be high tomorrow (BOE Gov             Carney Speaks)
- looking to get into the downtrend on the hopefully last test of 0.74 area

Target at 0.7235 is derived from monthly chart
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Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
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