Position trade: EURGBP short
Updated
I went short today, after getting a bearish signal confirming a possible large decline in this pair.
The BOE is maintaining a hawkish view, which spells nothing but trouble for the Euro.
Introduction of QE by the ECB in the coming days will seal the deal, making me consider an extreme target of 0.68013 and an intermediate term one at 0.7552.
The level I consider as invalidating is a retest of 0.7951, which would make the pair start ranging.
If the trade were to turn against me and travel 100 pips up, I'll enter a second batch with the same lot size.
If it were to continue trending up, as long as the invalidation level is not reached, I'll increase the position to average out.
Good luck!
The BOE is maintaining a hawkish view, which spells nothing but trouble for the Euro.
Introduction of QE by the ECB in the coming days will seal the deal, making me consider an extreme target of 0.68013 and an intermediate term one at 0.7552.
The level I consider as invalidating is a retest of 0.7951, which would make the pair start ranging.
If the trade were to turn against me and travel 100 pips up, I'll enter a second batch with the same lot size.
If it were to continue trending up, as long as the invalidation level is not reached, I'll increase the position to average out.
Good luck!
Note
Target almost hit, still an amazing short.Note
Once again, shorting this pair...
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