EUR looks like it’s remaining strong coming out of last weak, and GBP is on it’s 3rd down-day in a row. GBP has been trading within ranges, but it looks like it’s finally making a move in one direction. EUR/GBP is breaking to new highs, and there’s a decent high-base setup on the hourly chart. I’ll set entry/stop orders based on the high base.
Entry – 0.8735
It took a little bit, but price eventually moved in my favor, triggering my entry.
| Entry Order Level |
|---|
| 0.8735 |
| Stop Loss Level |
| 0.8692 |
| Target Level |
| 0.88 |
Exit – 0.86909
After triggering my entry, the most I was ever up was about 7 pips. Price slowly but surely moved against me, and at 1am had a large enough drop that it stopped me out. I was being a bit overzealous with GBP, but I’m not terribly upset with this trade. Win some, lose some
