Update: Trade is Active
Update: I will cut my losses short, close the trade before hitting stop as price break 0.8330 support level. Closing at market price 0.8315
Profit(pips)= 25x2=-50 pips
Accumulated Profit(pip)= 2666-50= +2616
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The EURGBP has broken out of a major falling edge formation, and extended the upside to break the resistance and neckline for the double bottom pattern shown on chart. The price is retesting the neckline for the broken double bottom formation, after the 1.271 extension level managed to halt the rally.
I am speculating on the resumption of the bullish wave, looking to long EURGBP targeting 1.271 extension again and the full target at the 1.618 extension at 0.8468 swing high and resistance level.
Wish me luck and follow me at :)
twitter.com/thefxchannel
thefxchannel.com
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Still Active Trades:
1)
2)
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;)
Update: I will cut my losses short, close the trade before hitting stop as price break 0.8330 support level. Closing at market price 0.8315
Profit(pips)= 25x2=-50 pips
Accumulated Profit(pip)= 2666-50= +2616
------------------------------------------------------------------
The EURGBP has broken out of a major falling edge formation, and extended the upside to break the resistance and neckline for the double bottom pattern shown on chart. The price is retesting the neckline for the broken double bottom formation, after the 1.271 extension level managed to halt the rally.
I am speculating on the resumption of the bullish wave, looking to long EURGBP targeting 1.271 extension again and the full target at the 1.618 extension at 0.8468 swing high and resistance level.
Wish me luck and follow me at :)
twitter.com/thefxchannel
thefxchannel.com
-------------------------------------------------------
Still Active Trades:
1)
Trading Criteria:
1. Trades are taken in two units
2. First unit would be closed at first target
3. Stop loss is then moved to break-even
4. Second unit would be closed at second target
5. Note that If 90 percent of first target is reached without triggering entry, trade is cancelled
6. Remember: Losing is a main part of the game ;)