EURGBP | MT Short H4 | Betting Against the EUR

Pair: EURGBP
Timeframe: H4 - Medium Term (MT)
Direction: Short

Technical Confluences for Trade:
- Stochastics are in Overbought Conditions on H4 and H1 time-frames
- Price action has multiple resistance from trendlines & also a horizontal trendline (supply zone)
- Aiming for the 50% Fibo Retracement which the horizontal line shows a supply-demand zone.

Fundamental Confluences for Trade:
- Nothing much can dictate the movement of this FX pair as they are heavily trade-related like the AUDNZD . Any major movement will come from supply-demand areas, monetary policies or economic data gyrations.

Suggested Trade:
Entry @ Area of Interest 0.8590 - 0.8620
SL @ 0.8643
TP 1 @ 0.8562 (Close Half-Position & move SL to Entry level once TP1 is achieved)
TP 2 @ 0.8522
Risk-to-Reward @ Approx. 2.22 (Depending on Entry Level)

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Disclaimer: The above suggestion is an personal opinion in general and does not constitute as investment advice. Any decisions taken based on the above suggestion is purely your own risks.

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İşlem kapandı: durdurma seviyesi

İşlem aktif:

Can retest the above trade again as there was no clear sign of a break above the trendlines.

Yorum:

TP1 levels achieved.

Take profit on half the position and move the SL to Breakeven levels for a risk-free trade.

:D

İşlem elle kapatılmış:

Price is very close to TP2 levels. Decide to manually close the position and enjoy the successful trade. :D