MrVolcano
Long

FX00082 - EURGBP - 4hr pinbar long

FX:EURGBP   Euro Fx/British Pound
21 1 1
Price held on support at 0.7730 and now looks set to climb higher, possibly to retest 0.8080.

  • I've entered on a 4hr pinbar .
    Price has crossed above daily 50EMA
    Stoch crossing out of overbought (signifying low swing low is complete)
    RSI has broken out of oversold.
    MACD looks likely to do the same.

Entry 4 hour pinbar ...
snapshot
I got cold feet and closed out this trade before it entered because price kept hitting the 20EMA (D) and dropping. However price did breakthrough the 20EMA as predicted has I been more patient! Lesson learnt hopefully!

snapshot


Anyway, after some carefully analysis, I decided that there is till upside in this rally and so I've taken another LONG position (E: .7913, SL: 0.7859 TP: 0.7990.

Good luck!
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