glennmercer
Short

EURGBP SHORT: Pin Resistance At Completion of Bat & Gartley

FX:EURGBP   Euro / British Pound
Entry triggered at the long-term watch level on this pair. Targets are deep, and there are four of them. First target to watch is the weekend gap fill. Of course with these tight stops you have a high probability of stop-put, if you take trades like these manage risk accordingly. I placed SL tightly above highs because any rally above will invalidate the setup and we'll have to wait for more bearish signals. Gartley and Small bat are both complete at this point. Happy trading!
Trade active: Pinbar resistance strong enough to contain. Trade is active:
Comment: Hey traders! We're up about +14 Pips so far on this one. I'm setting SL to breakeven. Here's why: We have a potential triangle complete that may act as continuation. I like risk in setting to B/E here because if this is not in fact a continuation pattern then a large drop ensues and entry level will likely not be touched. Check it out below. Cheers!
Trade closed manually: Closed at Breakeven! The above triangle was accurate, no pips lost nor gained. New wave count pending, stay tuned!
Been following this pair closely and you confirmed what I was thinking may happen. Thank you for sharing!
+1 Reply
You got it!
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dnewb88 glennmercer
Hit my B/E stop loss at .86820 and is climbing. Do you think that now it is a breakout and will go into correction for a bit?
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dnewb88 dnewb88
I meant at .86890
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sir
Please give your update on USoil sir because lot of caos on comunity of usoil. I bliendly beleive you so pl give your update with count sir
Reply
glennmercer waverider01
Hi waverider, thanks for your support. Never trade blindly, always formulate an understanding! Oil outlook can be found below. Cheers!
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SIR
I am your great fan to read and learn from your chart. sir i am a commodity trader and trade only usoil . Sir please cardial request please update your view on USOIL
+1 Reply
glennmercer waverider01
No problem wave rider and glad you're enjoying the analysis
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