Short EURGBP – getting into downtrend on retracement

٢٤ فبراير ٢٠١٥

Trading idea on 4h chart:
Short EURGBP – getting into downtrend on retracement
________
Trading idea: limit sell order at 0.7395, Risk-Reward = 3.2
SL@ 0.7445 (-50), TP@ 0.7235 (+160)
________

- EURGBP is in a strong downtrend on monthly, weekly and daily charts ->only short positions
- volatility is high on 4h and 1h charts and expected to be high tomorrow (BOE Gov Carney Speaks)
- looking to get into the downtrend on the hopefully last test of 0.74 area

Target at 0.7235 is derived from monthly chart
__________________
Disclaimer: There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.