EURGBP Short

MariaRose

Member
53 3
That really made good pull back from the support.

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bax699

Well-known member
491 107
Good morning all, update today on the EURGBP buy trade we took. After the entry we had a buyers and sellers battle for a couple of days until we got a nice impulsive move in our desired direction and TP1 zone has been hit. This was a lovely setup which gave us a nice tight stop loss. I have moved my stop loss to just over 1:3 R:R (red line) currently price sits at 125 pips in profit which equates to 1:8 R:R. This is where we need to see that extra push to continue north. Or we could see price respect the trend line and move back to the downside. So move your SL into profits to secure some pips for as mush as you wish too. Will update again in a few days GLIYF
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RachelFX

Active member
107 28
I am looking short on the third touch of the trendline
 

bax699

Well-known member
491 107
Good morning all. Little update today on the EURGBP buy trade we took. To our delight on our buy trade, we have seen price push through the bearish structure. EUR has seen a little strength, We have created a new high and currently sit at 198 pips in profit. I would like to see a higher low for and test the break and then continue on to TP2 zone. If the break is real that is what we should expect. Keep holding for now and move your SL into profit area for security. GLIYF
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bax699

Well-known member
491 107
Good morning all, Just before the Xmas holidays we sat in a buy position on EURGBP we peaked out at 200 pips but failed to reach the tp2 zone. Never the less we got stopped out in profit as we saw price fall back down. Now we find ourselves as the strong demand zone once more. For which I am looking to see support form for us to buy from again. We do still seem to be falling gradually over time so we will either catch the strong reversal, or we will see price tank through the demand, only then will I start looking for sells. Should be an easy trade to take this one. GLIYF
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sebking1986

Well-known member
273 85
I still think this looks bearish as it stands so favour the short. Will wait to see if we get a confirmation or break of structure.
 

bax699

Well-known member
491 107
Good morning all, ending the trading week reporting on a SL hit on EURGBP, as per my last video update I took a buy . In hindsight it was a risky trade, as our other trade on GJ has hit the TP zone. But that's why risk management is key. It seems GBP is on a very strong run at the moment. For that reason I am now going to wait to see what happens here at this critical stage, we're at a monthly demand zone so if we manage to break below then there may be more bearish action to come. If it reverses then we will look to get in on a re test. Will update again next week once we have some more movement. Haver a good weekend GLIYF
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sebking1986

Well-known member
273 85
Hey it's just 1% at the end of the day. YOur GJ trade has already paid it back and more. Still looking very bearish for now. Expect a LH before another LL unless shown otherwise.
 

bax699

Well-known member
491 107
Good morning all, last time out on EURGBP price took out my SL. But I have entered a buy again, as I believe in this demand zone and that we will get a reaction from here. Looks to me like a bottom has been formed so I bought at the bottom of this channel. not expecting a full massive reversal, but at least a nice pullback to the supply zone above. Still good R:R of 1:15 with the tight stop loss, that's why its appealing and why I have taken it from here. If we don't trade what we believe to potentially happen then what's the point in trading. Easy setup to take GLIYF
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