EURGBP Long Term Long
I am a longer term forex trader trades typically last 4-12 months. I have taken a long here, I am very concerned about todays election but the weight of technical analysis convinced me to take the position. The point and figure 3 box reversal chart is my preferred measure and it signalled a buy trade at market open. This signal is confirmed by a cloud break and the end of what could be described as a rectangle bottom. MACD is at zero and trending higher, RSI below oversold, ROC > 0 and ADX at 25.
The Point and figure gives a vertical count target of 300 pips I will take that as my first objective. The EURGBP is a fairly quiet pair, 100 day ATR is only 60 pips however these pips are priced in GBP making them more expensive.
Strategy as always follow the trend as early as possible and stay in it as long as possible, my other active trades are linked
The Point and figure gives a vertical count target of 300 pips I will take that as my first objective. The EURGBP is a fairly quiet pair, 100 day ATR is only 60 pips however these pips are priced in GBP making them more expensive.
Strategy as always follow the trend as early as possible and stay in it as long as possible, my other active trades are linked
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