Trend Trading - Bearish EURGBP 20-Mar-16

Trend Trading With NITTS – Bearish EURGBP – 20-Mar-16

A few enquiries from NITTS traders regarding EURGBP this week and how to position for EURGBP weakness – Nobody asking how to position for strength!

I am guessing the interest comes from Draghi’s infamous speech last week, Brexit and Nigel’s continued coverage in relation to his PAST strategy – He has another video update related to EURGBP again this week.

So, how do we position for EURGBP weakness?

To start with – Let’s avoid the 1 hour time frame and lower – There’s just too much volatility at present. The 4 Hour chart looks OK to trade but the best clarity comes from the Daily chart.

Those trading this instrument and timeframe are in fact already Short. I have documented the trade details on the following chart…

Trend Trading - Bearish EURGBP 20-Mar-16 - Chart

Hope it’s useful.

All comments welcome…

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This update is based on my analysis on my charting package. It may differ to yours as it can be affected by time, market movements, charting packages and broker prices. I accept no liability for loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on any information in this report or analysis.