EURGBP - How to trade the next move

We've made some good pips with this pair recently if you have been following (related ideas). Here are the two scenarios.

Scenario 1: Price breaks under current support and we sell

Scenario 2: Price remains in the structure and starts rising towards the top

I favor option 1, and this is the trade I am waiting for... However I will happily use Scenario 2 as my "plan B" to make pips anyway.

Knowing what will happen if your ideal scenario DOESN'T happen is the best way to keep profits consistent and minimize frustration.

Yorum:

While posting this, my buy order was triggered... So we go with option 2 in this case.

Option 1 is always though and should be prepared for.

Happy trading.

Yorum:

Closed half position 0.893 and adjusted stop (which was hit)

Now waiting to see if this will break down here to short.