EURGBP

I’ve been posted my position on EURGBP earlier on Twitter and Facebook. I will explain the reason behind my decision to go short on this pair.

eurgbpdaily-170111-tweet

The reason behind my short entry on EURGBP is on the daily chart. The EURGBP forms a Daily Pin Bar yesterday. This Pin Bar emerge on the level that I considered as the daily resistance, just like the picture shows below. This Pin Bar is obvious and sticks out.

I decide to open 2 sell position below the low of the Daily Pin Bar and stop loss above it:

OP: sell at 0.8658, SL: 0.8769, TP 1: 0.8585, TP 2: 0.8380

Notes:

  • Adjust stop loss on 2nd position if price reach first target. The adjustment will be updated later.

EURGBP Daily chart

eurgbpdaily-170111

Don’t forget to see my latest trading setup on:

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2 comments

  1. […] EURGBP: open short position below the Daily Pin Bar. […]

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  2. […] [Read this trading setup: EURGBP] […]

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