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pardeepk
Oct 31, 2012 5:04 AM

EUR/GBP enter at fibonacci retracement Long

Euro Fx/British PoundFXCM

Description


***TEST TRADE**** [I just want to see my own feedback on this strategy]

Enter at:0.8039
Limit:0.80713
Stop:0.80240

Therefore, you are risking around 15 pips to chase around 33 pips.

the reason for entering at that level is because price will be at the 0.50 fibonacci retracement from the recent upswing combined with ichimoku support --> This results in a stronger support base.
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