EURGBP Short

bigbax699

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35
Ive taken a short on EURGBP , weve seen a deep retrace in price from the previous high on this pair. The .618 fib level is a perfect point to take a short from this type of move for me. SL is fairly small just under 70 pips im targeting that mid level of support at 0.8865 with a nice R:R ratio of 3.91. The wicked rejection of that level from yesterday was my signal to enter. GLIYF
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bigbax699

Recruit
Messages
35
Since monday i called the sell on EURGBP we have made good ground of 130 pips. By now you should be moving your stop loss to entry point and taking half of your position off. banking the profits and let the rest run.
As now we have reached a small support shelf that needs to break to make further gains. But by securing the bag weve made profits and we are at risk free so all is well. Hope alot of you caught this one as was an easy one to take. GLIYF
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bigbax699

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35
The sell on EURGBP is still going to plan. Currently 170 pips up in price. We have seen price action drop through trend and currently sat at a zone of support. i still think we could reach target. Wether we just continue to drop or we retest the broken trend remains to be seen. Running risk free on this one, if you followed look to take profits here of the 50% level and leave the rest open to possible further downwards movement, GBP seeems to be strong currently this week so make sure to take advantage of that. GLIYF
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bigbax699

Recruit
Messages
35
Hope everyone had a good week trading. EURGBP has given us 200 pips profit so far. i Know my target is lower than current price level but i am going to take profit here just above the 50% level. My thought is that we could possibly see a retest of the broken trend we have managed to break. Good level of R:R so no complaints at all. We can always re enter if we do get the retest and still get another trade with good R:R for a possible longer term drop . Cant go broke taking profits GLIYF
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