[Read this trading setup : EURGBP]

I’m out from this short trade with full profit. I managed to get profit 163 pips from 2 positions.

I took this trade based on what I see on the 4-hour chart. Price formed a Bearish Engulfing bar at the level that I marked as the resistance area. This bearish signal works well and reaches my target. The sentiment on the British pound sterling keeps on showing positive stance since the Brexit opinion poll shows wider lead on “stay” and its affect my EURGBP short position.   

Here is the summary of my positions:

OP: sell stop at 0.7699, SL: 0.7759, TP 1: 0.7650, TP 2: 0.7585

Position 1: +49 pips

Position 2: +114 pips

Total profit: +163 pips

EURGBP daily chart


EURGBP 4-hour chart


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