EURGBP Short by Bijoymj

Trading Discussion
1

Pair: EURGBP

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

Chart:

eurgbp contest.jpg700×382 35.9 KB

BIJOY

Also posted and updated here

2

Order triggered

http://forums.babypips.com/trade-journals/47465-bijoys-trading-set-ups-126.html#post453821

3

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

eurgbp trailing.jpg700×377 27.5 KB

http://forums.babypips.com/trade-journals/47465-bijoys-trading-set-ups-127.html#post454011

4

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

Planning to short again at 8550/60

eurgbp bijoy.jpg700×377 22.4 KB

eurgbp bijoy.jpg700×377 22.4 KB

5

Shorted again at 0.8600

eurgbp.jpg700×382 25.9 KB

6

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

eurgbp 123.jpg700×382 28 KB

7

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