EURGBP trying to wear you out!

30 cze 2019

I've already made an attempt to short EURGBP, the idea was then posted. The fact that it didn't had daily bearish divergence at the time, made me sceptical about my position. So as soon as it made a move down, i changed my SL to BE, because i knew there could be chance to pull the trigger higher. Which was exactly what happened. Last week it went a littler bit higher everyday. wearing out the shorts.

- Friday the day closed red, with divergence.
- Broke down the wedge on lower tf.
- Last week top was just a little bit higher than before, getting SL from traders that got in when i did before.
- This week there'll be PMI's data coming out, which should bring more volatility to the currency.
- Beginning of the month, which means it can start out with a correction and still close green following the trend of the pair.

Be careful as this pair has been bullish for a month and a half. Pound has been extremely weak. With that said, there's an opportunity for greater returns and if not from here i'll look for another chance during the week.

- Already have a position since it broke the wedge.


Cheers

1 lip 2019

Zlecenie aktywne

This pair is not making it easy for anyone. Usually if a trade gets too hard i just let it go but has i've said this's just trying to wear out everyone before a bigger move, which i think it's happening this week or the next.

I got stopped above the wedge but since it actually closed bellow, i reopened the trade with a tight SL and it's now sitting on profit with the SL at BE again. I think that if it goes above 0.897 it'll probably either move higher or sideways for a while.