EURGBP Short by Bijoymj


Timeframe: Daily

Long or short: Short

Trade rationale: EURGBP appears to be retracing to the fib 61.8 level which is in line with the rising trend line after a heavy rally. Stochastic also already left the overbought territory and is heading south. A break below the current retracemnt can pull down the pair to the rising trend line.

Entry: 0.8510 (Sell Stop)

Exits: SL at 0.8570, PT at 0.8330 with a trailing stop of 60.

Trade is offering an RR of 1:3



Also posted and updated here

Order triggered

Presently the trade is up by 60 pips and moved SL to BE. Also the trailing stop of 60 pips also is triggered.

Closed trade manualy at 08490 for +20 pips expecting a pull back.

Planning to short again at 8550/60

Shorted again at 0.8600

Not Keeping more risk. Moved stop loss of my EURGBP short trade to 0.8640 from 0.8700.

Stopped out at moved SL. Now the bias are for Long