SamKent
Long

EUR/GBP Long at Support Plan

FX:EURGBP   Euro / British Pound
135 1 3
Looking at the 1H chart, we can see the pair seems to be consolidating after a highly impulsive bull move. We're looking to find an entry point with a tight enough stop, so that we may benefit if the pair ends up continuing the bull move with another impulsive move. Our current plan is to enter the market at the established support zone around 0.7955, with a 30 pip stop just below the previous consolidation zone at around 0.7925. The general plan with this kind of trade is to trail our stop while keeping an eye out for fading momentum indications, so that we may capitalize on the majority of the next bullish impulsive wave.
GBP is weak, EUR is also weak.

Any news from EUR zone, and the SL will be hit,
R:R on the short side seems better.

An ideal entry would be on 21th of November, Friday after/before the Draghi speech. (spreads would also be higher though)
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