EURGBP: Looking for short opportunities

The EURGBP just entered into a bearish market condition. It traded for 3 days in a short term range in between 0.8823 and 0.8776 (because it was trading at an important long term resistance level – blue line). Please take a look at this chart:

EURGBP
EURGBP

So, we will have a bearish market condition as long as the market continues to trade below the short term range.

Here is my trading plan:

As long as the market continues to trade below 0.8776, I will look for short trading opportunities, targeting the next long term support level at 0.8649.

All long opportunities will be ignored.

Good luck

Raul Lopez

Tags: , ,


Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .