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theforexdaddy
Apr 15, 2019 6:20 PM

EUR/GBP TRENDLINE BREAK GOING TO RETEST !!! Short

Euro Fx/British PoundFXCM

Description

TECHNICAL ANALYSIS:

*-Price broke through the trendline and possibly will retest it.
*-On lower timeframe we see price is making lower lows and lower highs.
*-The retest of the trendline fits perfectly with fibonacci retracements.
*-If this setup is executed I'm place my stop loss just above the resistance
zone in case I'm wrong on this.
*-My take profit will be on the 0.859 support level but you can take profits on the -27.00% fibonacci retracement.
*-Might be waiting to see some candlestick reversal patterns before jumping on this trade

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