EURGBP has pulled back again and tested the ascending trendline from Feb 18th to Apr 30th. This provided an entry with a very tight stop but for extra piece of mind I've let the price action develop and show that it wanted to stay above those levels. I've a limit order to go long at 0.8731 with a stop loss at 0.8681
the targets can be seen on the daily charts. A break above the Apr 22nd high would signal an add on to the position, and failure to take out resistance here would signal an exit, but only by way of tightening the stop.
If you have any thoughts on this idea please leave a comment.
Thanks and happy trading :)
the targets can be seen on the daily charts. A break above the Apr 22nd high would signal an add on to the position, and failure to take out resistance here would signal an exit, but only by way of tightening the stop.
If you have any thoughts on this idea please leave a comment.
Thanks and happy trading :)