Stop orders for EURGBP

17 Nis 2016

EURGBP

I am honestly not sure about this one. I can see it going both ways. There are a lot of bearish technical signals like daily bearish MACD divergence, overbought condition on weekly stochastic, MACD and RSI indicators and a serious bearish engulfing candle on weekly. But then again the pair has been steadily climbing up within a channel for a while now and it just might continue an upward movement for the next week.

Price action has been forming an ascending broadening wedge which statistically prefer break outs downward but I am still hesitant to say that the time for the breakout is already here. That is why I will be placing stop orders for both long and short positions for next week and see how it develops.

19 Nis 2016

İşlem aktif

Sell stop activated

22 Nis 2016

İşlem kapandı: hedefe ulaştı

Bearish engulfing validated, taken profit taken.