EUR GBP quick 50 pip short

FX:EURGBP   Euro / British Pound
Was patiently waiting to see what EUR/GBP does on this current wave.

Looks like it just broke below the 61.8 fib level on the daily and H4.

I setup my TP at the 88.6 fib level and SL near the 50 fib level.

Again this is a 1 to 1 risk/reward ratio trade. Although the ratio is not appealing, I find my self doing a lot of these lately.

Entered: 0.88362
TP: 0.8783 (55 pips)
SL: 0.88874 (50 pips)

Sometimes I will stack another position on draw down or exit depending on what I see in the charts.

Today's (daily) candle also looks bearish . Possible long wick up before bringing it down.

This chart looks like a mess but also analyzing the recent wave down looks like it test the 50 fib level and going down.

Eur Usd broke the 38.2 fib and is now testing the 50. Hoping it will continue down to the 61.8. (taking w grain of salt)

Gbp Usd looks bullish based on the recent trend line . (also taking info lightly)

Thanks for reading.


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