EURGBP Short

bax699

Well-known member
471 101
Well well well. A look back at EURGBP and i have been saying for a long time this is going down. Initially from the 0.9 area and also since xmas too. Weve been in this small wedge and its ended with a break out below the support area .

This gives us a simple rule set for a nice entry for a short. That's if you havent already been short since we last looked at this pair. Wait for a pullback in price to retest the broken support and sell that sucker. Nice and easy for us all. Enjoy the rest of your weekend :)
Screenshot_2.png
 

bax699

Well-known member
471 101
Back to EURGBP as i know a few of you were looking at this pair. We were sitting down at the 0.83 price point. i dont think i could of made it easier for you to get in on this sell position. Price came right up to the magic blue circle and rejected nicely off the resistance zone . Creating a morning start candle on the daily, currently were in a Doji on the daily but obviously it hasnt finished completing yet, but it looks like its possible it could turn for the sell. This should of been your trade idea. a nice run down to the 1.6 extension fib for a 4.9 R:R and 300 pip possible move. Hope you caught that one, if so should be currently 40+ pips up. lock it to break even and let it run.
Screenshot_6.png
 

Jungletrader

Member
87 12
Nice analysis there Lee . If that Resistance zone holds it's nice Sell for a tantalizing 300 pips 👊
Again anyone looking to know how to analysis charts please bookmark these charts, as they say a picture paints a thousand words ✔️
 
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Jim B

Junior member
21 2
Good call, had a sell on this one.
 

Emmamarie

Newbie
5 1
Well well well. A look back at EURGBP and i have been saying for a long time this is going down. Initially from the 0.9 area and also since xmas too. Weve been in this small wedge and its ended with a break out below the support area .

This gives us a simple rule set for a nice entry for a short. That's if you havent already been short since we last looked at this pair. Wait for a pullback in price to retest the broken support and sell that sucker. Nice and easy for us all. Enjoy the rest of your weekend :)
View attachment 274715
Couldn't be any easier to identify well when you show us !
 

walpants

Junior member
20 6
good work, im learning a lot from your analysis, i'm not trading them though just observing
 
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pezza55

Member
56 16
Back to EURGBP as i know a few of you were looking at this pair. We were sitting down at the 0.83 price point. i dont think i could of made it easier for you to get in on this sell position. Price came right up to the magic blue circle and rejected nicely off the resistance zone . Creating a morning start candle on the daily, currently were in a Doji on the daily but obviously it hasnt finished completing yet, but it looks like its possible it could turn for the sell. This should of been your trade idea. a nice run down to the 1.6 extension fib for a 4.9 R:R and 300 pip possible move. Hope you caught that one, if so should be currently 40+ pips up. lock it to break even and let it run. View attachment 274923
Another hour or so and i think we will be in the zone ready for the sell off!
 

bax699

Well-known member
471 101
If you follow these setups and analysis then you should be in this trade now. I marked out the good entry zones in the magic blue circle. Price has came up and touched it for the second time, rejected the previous support which is now confirmed resistance, giving us an entry point. This gave us a nice 1 - 4.9 R:R , the next zone to be careful of is the support level below from the previous support. If it breaks through that then TP should be successful. GLIYF
Screenshot_2.png
 

bax699

Well-known member
471 101
Alot of people have been asking about EURGBP as it went miles past the blue circle which was my prediction. This to me looks like the current situation. I would say we are literally right on the edge of switching between bearish and bullish . Price has made equal lows to the bottom and equal highs. For it to turn bullish for me we would need to see a higher high form and daily candle close in the yellow circle. That would signify the switch in bias. Until then im still looking for price exhaustion in these areas. It also looks to be in this big 300 pip range, we could just bounce top to bottom until some certainty appears. A move either way in the yellow circles will signify the trend direction, for a further move going forward. stay safe out there the markets are wild at the moment
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