EG - Expect Continuation

19 Eki 2016

1D

Most traders are expecting a correction. I am trading this as a pullback and expect a continuation. EURGBP is bound to have a significant correction, but I don't believe this is it.

21 Eki 2016

Not

Based on the bearish price action yesterday, this is no longer a trade i would recommend. Price move up quickly and got rejected creating a big pin bar. Since I had gotten in before that price action, I still have the trade active for now.

21 Eki 2016

Not

Can see yesterday's bearish price action as the move higher was rejected.

I'm staying in this trade since I am already in. I entered the trade with only 1/2 position size (risking 0.5% of my balance) because I was taking a more aggressive entry price. If support holds and price reverses around .8850-.8810, I'm able to enter long with a much larger position since due to the tight SL.