Technician
Short

EURGBP: Short At Range Resistance

FX:EURGBP   Euro Fx/British Pound
2751 15 40
Update: Moved stop to entry
Update: closed half position ahead of first target, at 0.7915

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Another bearish leg is possible, as price hit the descending resistance for the main sideways consolidation which might take the shape of triangle. Also the 200-days SMA is at that resistance area. Am looking for a retest of the 50-days SMA as an initial downside target.

Best of luck. Join me at https://twitter.com/thefxchannel
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My best regards,
Technician

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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 I move stop loss to breakeven.
6) If 90 percent of first target is reached without triggering entry I cancel the trade.
7) Remember: Losing is a main part of the game
If you dont want to miss any trade and see all the trades live, fully transparent. No bullshit like some others. Join my FREE channel here https://telegram.me/technician_forex_trades
LastBattle
2 years ago
Cool.
Reply
Barabaszek
2 years ago
I'm in.Good luck.
+1 Reply
Technician TOP Barabaszek
2 years ago
GL buddy
Reply
HumbleTraders
2 years ago
Agree. CABLE IS DUE CORRECTION TOO.
+1 Reply
MertErten
2 years ago
I'm in the trade, H1 graph is also at resistance.
Reply
Malik1978
2 years ago
Best Of Luck, i am in the trade too :), thank you Technician for sharing your ideas.
Reply
Technician TOP Malik1978
2 years ago
Thanks, hope it works...
Reply
bharatest
2 years ago
Thanks technician, it's on its way
Reply
MisterTrader
2 years ago
Hi Technician : can you tell me why the stop loss is so wide, could be at 0,805, regarding the momentum ?
You took bar from 2014.09.10 as reference I see :)
Reply
MertErten
2 years ago
obvious but GOLD setup,
%15 return alone from EUR/GBP

others:
gbp/nzd, gbp/aud
Reply
HumbleTraders
2 years ago
Good play. Turned out nicely. Cable corrected too.
Reply
EWA
2 years ago
Thank you Tech for the Great Analysis as always.
I closed half of my position in order to go short again at 0.7950 area (With tight stop loss @ 0.8003)
Have a Great Weekend!
snapshot
Reply
LastBattle
2 years ago
snapshot


taken profit for the first one little early :D but at least I caught the bottom of this one.
Awaiting bottom touch to close the other.
Reply
Update: Moved stop to entry
+1 Reply
Update: closed half position ahead of first target, at 0.7915
+4 Reply
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