EURGBP short entry for many reasons

3 apr 2016

Hi traders,

On the EURGBP I am looking for a short entry. It has been going up a lot lately. Too much in my opinion. What this usually means is that price will retrace a a bit to regain some power.
Reasons for my short entry:

• Previous support & resistance
  
• Completed AB=CD pattern (see below in comments)
  
• 161.8 fib extension of the recent swing (see below in comments)
  
• 127.2 fib extension of the recent swing (see below in comments)
  
• Trendline
  
• 61.8% fib retracement
  
• 38.2% fib retracement
  

Entry: 0.8055
Stop: 0.8116
Target 1: 0.7885
Target 2: 0.7765

Best of luck!

6 apr 2016

Trade attivo

15 giu 2016

Trade chiuso: obiettivo raggiunto

Both targets hit.