EURGBP Long
Updated
Three reasons to go long in this chart:
- 61.8% retracement of latest leg up (blue)
- Support/Resistance level (yellow)
- RSI divergence.
T1 is at the 38% retracement of latest leg down (red) where there's also a support/resistance level (yellow).
T2 is at the 78 % retracement of latest leg down (red) where there's also the 11.4/88.6% distance of the leg up (blue)
T3 is at 27% extension of the latest leg up (blue) and the psychological level of 0.80000
- 61.8% retracement of latest leg up (blue)
- Support/Resistance level (yellow)
- RSI divergence.
T1 is at the 38% retracement of latest leg down (red) where there's also a support/resistance level (yellow).
T2 is at the 78 % retracement of latest leg down (red) where there's also the 11.4/88.6% distance of the leg up (blue)
T3 is at 27% extension of the latest leg up (blue) and the psychological level of 0.80000
Note
T1 got hit. We closed 1/3 of our position and moved Stop Loss to 0.78436Note
T2 got hit (we chose the red line). Closed another 1/3 of original position. Stop Loss moved to 0.78829.Note
Locking in 23 pips more profit. SL moved to 0.79050Note
Locking in 15 more pips. SL moved to 0.79200Trade closed manually
Took off the last 1/3 of the position at 0.79900 in light of the upcoming NFP news release.
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