moneymaking
Long

EURGBP: ONE OF TWO ABCD PATTERNS COMPLETED @ PRZ !!!

FX:EURGBP   Euro Fx/British Pound
Hello Traders,

We have got another very good setup on EURGBP             , which is same as the EURUSD             long trade setup. We completed at least 1 of the 2 patterns completed at PRZ. Notice the bullish RSI divergence as well. This pair correlates quiet well with EURUSD             , so better to spread out your risk. Structure based targets are labelled above, stops is very tight since the market is so close to the previous structure level (higher low). See the chart above for more details.

Please feel free to AGREE or DISAGREE with this idea by leaving a comment below. Hit that thumbs up button (top left corner of this chart) if you like the idea. Thank you everyone for all the SUPPORT that you have given me so far, I truly appreciate it. Good luck everyone :)

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Comment: UPDATE #1: Stop loss NOT hit. We do have break in trend on 15 mins. Need to wait for 4 hr candle to close below structure to validate the trend break on lower time frame. For now positions are still open :)
Comment: UPDATE #2: We did NOT got a 4 hr break AND close below previous structure support (HL) and the stop loss is still intact, thus holding onto the long outlook on this pair.

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Comment: UPDATE #2: Double bottom formed, waiting for the market to break and close above the resistance level.

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Comment: UPDATE #3: Stop loss was NOT hit, target is achieved. Stops moved to break even.

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Comment: UPDATE #4: 2nd target reached. All positions are closed.

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NICE!
+1 Reply
Hey mate, how you doing? Thank you. Patience finally payed off :)
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Max_N moneymaking
Yes, almost stopped out twice :)
+1 Reply
Hehe, yeah. Psychologically its quiet challenging :)
Reply
Morgan Stanley is shorting this pair for some reason to 0.7400. good luck!
+1 Reply
moneymaking AldreyMor
Hehe, thanks mate, I will be out of this trade way sooner than 0.7400. 50 pips loss = no problem for me :)
Reply
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