EUR/GBP Possible Path

17 Nis 2023

Update to my previous idea, this time with a mini-Elliott Wave pattern. With the 5EMA and 15SMA already crossed and both the momentum and macd indicators showing positive it's a definite BUY trade for me. Only question is....at which price? is there going to be a further pullback down to the trend line tomorrow? If so then that is the preferred price to BUY. If you enter a BUY now, then the risk is greater and if the possible path is wrong, a good chunk of funds could be lost. Stay comfortable with the trade and wait. If it moves up tomorrow, another deal will come along anyway.

18 Nis 2023

Not

The momentum indicator shows a possible move down tomorrow. Based on todays candle and the fact that I only trade the daily chart at the end of the day, I have set a BUY order at 8803 with my stop below the trendline and horizontal cross.

19 Nis 2023

İşlem aktif

As predicted, price did drop to the horizontal line and trend line. The BUY order has been triggered and I am in the trade. It looks like the wave 4 is complete as it has not overlapped the wave 1 top and there are signs of rejection from that horizontal price line.

21 Nis 2023

Not

Moved stop to break even / small profit.

25 Nis 2023

Not

Keep moving the manual trailing stop as there has been a good buying run. It has touched resistance last tested on 17th April so I am hopeful that there will be a break through and opportunity for further gains.

26 Nis 2023

Not

Another higher close on the daily chart. Another move closer to resistance. I am in small profit. Can't really move trailing stop any closer as increments are so small. The strategy is to let winning trades run so that's what I will do.

27 Nis 2023

İşlem kapandı: durdurma seviyesi

End of the road for this trade.