EUR/GBP : 2nd Chance

Having missed the sell signals at 0.8790 and 0.8635 due to unfortunate circumstances, I finally jumped in short EUR/GBP at 0.8464. As usual, when drawn into trades in this manner of capitulation, it went wrong almost as soon as I got in and I could feel it in my bones then even as I was executing it. Thus, I only put it on in 1.2% EAR, a relatively small size.

We have now backed up to 0.8573. On the weekly chart, this pair remains a big sell around 0.8635. I will increase the position to 3.0% EAR if we do get anywhere close to that level.

Addendum 3:57 pm : Added to short at 0.8626. Position size now 2.5% EAR.