EURGBP Short

bax699

Well-known member
469 100
Todays check up is on our sell on EURGBP . WE got a nice sell in from the top and currently we are sitting in 220+ pips profit. Worked out just as planned. Although we might see a little pullback in price soon, i think we could get full projection to the marked out zone. you can either take profits here then sell again on a pullback to trend and lower high made or keep holding. choice is yours. GLIYF
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bax699

Well-known member
469 100
Still currently 150 pips in profit on EURGBP . We have peaked at 220+ pips in profit. Obviously when you take profit is down to yourself and when your happy too. Structure is still bearish in price action and its still respecting the downtrend currently so im staying in. EUR has been strong lately so if it does break above then i will most likely take all profit there. If not and structure holds ill keep holding. GLIYF
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bax699

Well-known member
469 100
Looks like we have had a fake out on EG. EUR has been pumped alot lately, might even be due to USD weakness. I was watching for price to retest the breakout but it has come straight back through the trend line and it seems to be continuing our bearish trend still. Currently 222 pips up still we can keep holding, just need to make a lower low here for me to be totally happy. GLIYF
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bax699

Well-known member
469 100
Looking back on our EURGBP Sell trade today, price looks to be stalling at the moment. In fact most of the market seems to be slow moving. I think its waiting for the US elections to come into play. We are still making lower highs but yet to make a lower low. We have been in this trade some time now so you can take profits if you wish. When the election happens USD will make EUR move alot as its an inverse currency. Might be a good idea to take profits anyway so we dont give them back to the market. still over 150 currently so not a bad haul at all. GLIYF
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bax699

Well-known member
469 100
Good morning all, new trading week begins. Big one this week with NFP, and the US elections aswell as other monthly news figures. Over the weekend we say the UK announce another lockdown, so naturally gbp weakened, but only slightly, most of this virus events are priced in the markets now. Price almost came to our full TP projection, we just touched the top of out circled zone at the bottom of the wedge which was 250 pips. If you got out when markets opened you should be over 200 pips. I think we will still go down from this zone of resistance it now sits at.Bring SL right down as the elections should make prices in the markets go wild. GLIYF
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bax699

Well-known member
469 100
Well TP projection zone of our trade was finally hit. It took a long time but there was plenty of times to take profit and re enter or stack along the way. Just pleased that price as respecting the analysis and short term price action. 300 Pip profit acheived so not bad at all. Thankfully before the US president is elected so were out of the markets before the madness starts. Id like to look for another sell on this pair i still think price is high on average. But will wait for a breakout and retest on that one after the election madness stops. GLIYF
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bax699

Well-known member
469 100
Looking on EURGBP again today and its just a show of how you can profit intraday on positions. Ive always said the average price of this pair is high and would only look for sells. Well this graphic just shows you how easy it can be to make intra day trades and bank profits on the regular. We took a TP on this trade but it took a good few weeks. But this highlights on a downtrend where you can sell on the lower high's- time and time again. Just watch price on the daily TF then move to the lower for that reversal sign and then open your position. Pretty easy stuff, id like to see this break a bit lower first and again i would sell on the lower
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high if it forms one. GLIYF
 

bax699

Well-known member
469 100
Todays pair EURGBP is in a funny place for me. The support zone below is a strong one. We have reversed from here multiple times. So for this current bear trend id like for price to break it before i sell it around here. Another lower low under that zone and then sell on the lower high would be my ideal situation. We could look for buys at this support zone below, but i think overall its likely to come down for more pips than up. Let me know your thoughts GLIYF
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bax699

Well-known member
469 100
Morning all new week upon us. Last time i looked at EURGBP i was hoping for price to drop through the 0.89 level. But it found support and the vaccine news has helped price come back up. The trade idea i have is from the level above with the confluence of the trend line . Watch for resistance forming on lower timeframes at that zone for entry. nice 1:4.4 R:R on offer with this setup back down to bottom of the wedge . GLIYF
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bax699

Well-known member
469 100
Back on EURGBP today and im watching carefully on lower timeframes for price to reject this area. If we get reversal signs on the 1H/4H time frames then i will be entering. Plus if the daily candle closes below the trend line then were in business. Remember dont blindly just enter look for bearish signs on lower timeframes first. Nice R:R 0f 1:4 on offer with this setup. GLIYF
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bax699

Well-known member
469 100
New week begins, back to EURGBP . Cant make it any easier for you to follow. Surely if you followed the last chart i posted you would of sold the rejection from the level marked out. Currently running 120 pips in profit. Price is at a little support zone . So i say it again Move your SL into profit and make sure you lock them in and not give any back to the markets, just incase support is found and we see a turn up. We can always re enter again if it comes back to entry levels. have a good week all GLIYF
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bax699

Well-known member
469 100
Good news checking in on our EURGBP sell today. Price has dropped through that little support shelf. Naturally id like to see it create a little lower high for another push lower. Keep holding for now. i would suggest in moving your stop loss around 100 pips in profit, currently 130 . just to guarantee some profits as there's vital Brexit deadlines this month and anything can pop up at any time. Best to reward with at least 100 pips for xmas :) GLIYF
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bax699

Well-known member
469 100
Good morning all, new week begins. Happy to report that EURGBP has hit our TP zone. Last time i reported on this pair i was looking for the lower high to be made and to put your SL in profit. If you did you would of got stopped out in profit. But it came right back to our entry zone and had a huge rejection. So if you held or re entered you would of been fine. TP zone was hit of 230 pips. Not a bad trade to start the new year off. Will look for the next trade and report back this week sometime. Happy new year all GLIYF
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bax699

Well-known member
469 100
On the last post of this pair we had our TP hit. But looking for the next trade i think i would be inclined to wait for the break of this big wedge . i think we will have more action if it breaks below and the GBP regains more of its overall strength against other countries. I personally think we will see sideways action for a good few days now. But as always let price show us the direction and follow along with it. Either buy or sell the break or wait for the re-test. Should be a failry easy trade for us to take, prefer the sell personally lets hope price agrees. GLIYF
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