Was patiently waiting to see what EUR/GBP does on this current wave.
Looks like it just broke below the 61.8 fib level on the daily and H4.
I setup my TP at the 88.6 fib level and SL near the 50 fib level.
Again this is a 1 to 1 risk/reward ratio trade. Although the ratio is not appealing, I find my self doing a lot of these lately.
Entered: 0.88362
TP:...
My first short I rode it down from about 0.89382 (38.2) to 0.88594 (50) and got out thinking it may bounce off the 50 fib which it did.
Got out watched and waited.
Bounced off the 50 a little bit but to me it looks like it will eventually continue going down.
Looking at the fibs for the first wave up it looks like it could bounce from 50 to 38.2 and possible...
I rode EUR GBP long from the 61.8 fib level to 38.2 fib. Took profits at 38.2 fib as it consolidated and just waited to watch what it does.
Looks like a false move up or stop hunt on today's candle (long wick up) before shooting down so I entered a short.
Entered: .89164
TP: .88533 (This is the 50 fib retrace level, next level down.) (67 Pips potential...
FX:AUDCAD
Test 88.6 / 11.4 fib line 3 times.
Entered: 0.97476
SL: at 0.96407 (may pull our earlier depending on what happens) (100 pips)
TP: at first major fib retrace at .99064 (160 pips)
Also looking left: Ceiling from 08/2015 and 05/2015
80% long positions opened data from www.myfxbook.com Possible shift soon.
