Euro / British PoundShort
EURGBP not out of the tunnel yet
Updated
The one thing I like about Day and weekly chart is it prevents you from making hasty decisions to trade in and out of the market like the smaller timeframe.
Since July till now, almost 5 months later, the price action does not indicate EURGBP is out of the tunnel just yet. We are now reaching a few levels of support, though there might be some pull back but if GBP is getting stronger compared to other currencies, then, the price should continue to head southwards. The last straw is 0.78722.
If you are already in short position, congratulations. For buy, you may have to wait just a bit longer before we see a trend reversal.
Since July till now, almost 5 months later, the price action does not indicate EURGBP is out of the tunnel just yet. We are now reaching a few levels of support, though there might be some pull back but if GBP is getting stronger compared to other currencies, then, the price should continue to head southwards. The last straw is 0.78722.
If you are already in short position, congratulations. For buy, you may have to wait just a bit longer before we see a trend reversal.
Note
Praise the Lord, another nice red candle that is what sellers want. Nice , isn't it ? Indulge in the feelings of winning, that the strategy is working , that you were disciplined in exercising your SL, capital management, etc. Enjoy the fruits of your harvest. Congratulations !
Note
guys, watch the next candle, it is crucial as it has now touched the bearish channel line.
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