EURGBP Short Term Short

FX:EURGBP   Euro / British Pound
59 11 3
Short term short great RRR             using HVF tight stop small risk
Failed Trade will look at this again in a few days and start looking for other setups !
Looks like the entry has come early short here !
Looks like we are still waiting for our high 3 properly going to take the Asian session to bring the price back up to this level will be looking for a late night / early morning short on this now. day with some scalping on the pair but still waiting for the bigger drop as predicted.
TheDukeUK TheDukeUK
Close the long at the bottom of wedge 26 pip gain - now we have set the low 3 we where looking for we just need the high 3 to come then the big short down.
Half a position entered here with a sl just above the high 2 if looking for a low 3 high 3 next to add more
still waiting on that low 3 high 3 to take the next short
Looks like i called the pattern too early new pattern is waiting for a low 3 high 3 then short still in the trade and will add another position on the confirming pattern.

We also have some nice volume build up at our entry point on this trade also something i didnt notice before.


Some more information on how the trade is setup the distance between the high 1 and the low 1 is 112 pips giving us a full target projection of 112 pips from entry.
You can work out earlier profit taking targets buy measuring the distance between levels high 2 to low 2 and high 3 to low 3.
You can also you this for setting your risk although i like to know if im wrong fast and be out the trade early so i use the projection of the last move 3 high to 3 low in this case 15 pips SL.

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