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Technician
Mar 18, 2015 9:20 PM

EURGBP: Long-legged doji at Resistance #forex Short

Euro Fx/British PoundFXCM

Description

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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Good luck, keep your stops tight..
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My best regards
Technician
Comments
MuathAlBulbul
Almost reached the top line of the channel, prepare your selling orders!
No_more_Post
rv
nice1 Tech.
MuathAlBulbul
I missed this one for sleeping! BUMMER!
Burrmarket
No breakout to .74 in your mind? This looks like bullish accumulation. The GBP is doomed....
Technician
Could be the case on the longer run, but in the very near term i am looking for a quick short.
Burrmarket
+1 thank you!!
Technician
Ofocurse this a bet and nothings guaranteed :)
Burrmarket
Spoken like a true professional.
Technician
Thanks
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