Technician
Short

EURGBP: Long-legged doji at Resistance #forex

FX:EURGBP   Euro Fx/British Pound
1698 10 23
Simply stated i am looking to short a bit higher on one more retest towards 0.7287 resisance level.
The price was rejected at that resistance, formed a long legged doji candle. RSI in overbought region while over all trend is bearish .

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Trading Criteria:
1.Trades are taken in two units
2.First unit would be closed at first target
3.Stop loss is then moved to break-even
4.Second unit would be closed at second target
Notes:
5) If 90 percent of first target is reached without triggering entry I cancel the trade
6) If 90 percent of first target is reached I move stop loss to breakeven.
7) Remember: Losing is a main part of the game
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No breakout to .74 in your mind? This looks like bullish accumulation. The GBP is doomed....
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Technician TOP Burrmarket
Could be the case on the longer run, but in the very near term i am looking for a quick short.
+1 Reply
Burrmarket PRO Technician
+1 thank you!!
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Technician TOP Burrmarket
Ofocurse this a bet and nothings guaranteed :)
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Burrmarket PRO Technician
Spoken like a true professional.
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Technician TOP Burrmarket
Thanks
-1 Reply
I missed this one for sleeping! BUMMER!
Reply
nice1 Tech.
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EURGBP
KungsomTrader
Reply
Almost reached the top line of the channel, prepare your selling orders!
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