glennmercer
Short

EURGBP SHORT: Pin Resistance At Completion of Bat & Gartley

FX:EURGBP   Euro Fx/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:
snapshot
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!
snapshot
Trade closed manually: Closed at Breakeven! The above triangle was accurate, no pips lost nor gained. New wave count pending, stay tuned!
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 PRO waverider01
No problem wave rider and glad you're enjoying the analysis
Reply
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 PRO waverider01
Hi waverider, thanks for your support. Never trade blindly, always formulate an understanding! Oil outlook can be found below. Cheers!
OIL WAVE COUNT:  TRIANGLE COMPLETE, Watch for Wave-((I))-of-3!
Reply
Been following this pair closely and you confirmed what I was thinking may happen. Thank you for sharing!
+1 Reply
You got it!
Reply
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?
Reply
dnewb88 dnewb88
I meant at .86890
Reply
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