EURGBP Short

bax699

Well-known member
467 100
Afternoon. Was waiting for EURGBP to give us some direction for the future trades. Currently we've dropped through this trend i have drawn out. There's two trades here that could be taken for me. One is on this re-test of the break. Wait for resistance and the reversal signs on lower time frames to enter as it could easily rise from this support area . The ideal trade would be to drop through support zone and sell on the retest of that. Remember dont just enter blindly wait for that signal of direction. GLIYF
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bax699

Well-known member
467 100
Good afternoon all. I've entered a small 1% position on EURGBP . Looks like a classic break and retest to me. Yesterdays candle wicked right off the wedge , todays also tested and started wicking out so i entered on that premises. I only used a small 1% position as my ideal trade is below the support zone we are at. I will be watching this one and if we get a break and re test of the support zone then I will be stacking another larger position. GLIYF
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MacroBeat

Member
64 11
Good afternoon all. I've entered a small 1% position on EURGBP . Looks like a classic break and retest to me. Yesterdays candle wicked right off the wedge , todays also tested and started wicking out so i entered on that premises. I only used a small 1% position as my ideal trade is below the support zone we are at. I will be watching this one and if we get a break and re test of the support zone then I will be stacking another larger position. GLIYF View attachment 294670
NEXT TO THAT WEDGE I WOULD LOOK AT THE DAILY CHARTS AND THE 0.8865 PIVOT, THE LOW 11 TIMES SINCE MAY 2020... A CLEAN BREAK OF 0.8865 IS REALLY GIVING YOU THE NEXT MOVE , AHEAD OF THAT LEVEL MUST MAYBE WORTH TO BE A TAD CAREFUL
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bax699

Well-known member
467 100
Updating today on the EURGBP sell i took. Friday saw a little pullback in price on EUR pairs. Came back to entry zone, so if you missed the first entry i took there was a very easy second opportunity to take the trade. We are still making lower lows and lower highs so im still in bearish mindset for the position. Currently 40+ pips in profit, If we can break through the support on this next attempt then it should be good to drop through. GLIYF

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bax699

Well-known member
467 100
Quick check up on EURGBP now the weeks trading has finished. Its moving in our desired direction but a little slower than i would like. Bur we can now see the EMA's spreading out in a downwards direction indicating the stat of the trend. So hopefully it continues next week and we get a more significant drop. Peaked over 100 pips in profit on this position so far, currently 70+. Ill keep holding for now. Have a good weekend all. GLIYF
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bax699

Well-known member
467 100
Checking in on EURGBP trade. Currently 90 pips in profit, still below the support zone which held for a long time. I am seeing a spread in my EMA's, and critically pointing down which indicates a trend forming. Hopefully we can get a nice push like i have marked out previously on the chart. I would keep holding for now and set SL to BE which give us a nice buffer for price movement. Will update again in a couple of days. GLIYF
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bax699

Well-known member
467 100
Checking back on EURGBP today. Nice to see price has followed out desired direction and analysis. Currently we sit 160+ pips in profit on the first position. If you caught this first one then keep holding. You could stack or enter if you missed it on a pullback to the support zone broken, for the next push to our TP zone. Im sure it will be upon us, but you never know. Set SL to BE and let it ride for now. Moving averages are expanded so that's a nice sign of strength coming. GLIYF
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bax699

Well-known member
467 100
Good morning all, New week begins on EURGBP . Nice to check in and see that price is still following our desired direction to the south. Currently today we have hit the lovely 200 pip profit mark. GBP is strong across the board currently, We may see a pullback in price and create a lower high. You will most likely see it react to the EMA’s and then continue, which could be a good place to stack trades if you so wish. But for now keep holding, bank profits if you wish we should see TP zone hit soon enough. GLIYF

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bax699

Well-known member
467 100
Checking back in on EURGBP today and happy to report price has hit our first TP projected zone. We returned 230 pips on this position. Onto the next position and i would like to see some price action similar to what we saw previous to the left in the squares. Look for price to make a lower high and to possibly reject off the moving averages. My entry position might not bee off the resistance zone above so bear in mind i will be watching price action when it gets to the EMA's. Wait for rejection and reversal signs on lower TF's. GLIYF
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bax699

Well-known member
467 100
Good afternoon, Markets have alot of movement at the moment. We are seeing a lot of trending price action that's for sure. GBP is very strong across the board. On EURGBP price has broker the long standing demand from march 2020. Which Should open the doors for further movement to the weekly demand area's sitting below. But first i thin we could get a pullback to refuel the tanks for the move. Im looking at the trend line or possibly the supply zone that gave the push for the break of demand for a sell. Wait for this to play out and look for those positions for price to play out. GLIYF
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bax699

Well-known member
467 100
Good morning all, new week begins and today were updating with EURGBP . Entered the trade on friday with the rejection in price from the supply zone that broke the long standing demand zone . Currently a modest 68 pips in profit, but more importantly it was the correct idea of the trade pulling off which was important. What we need now is for price to break through the newly made demand zone to achieve our TP zone on the weekly demand below. Have a good week all GLIYF

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bax699

Well-known member
467 100
Good morning all. Hope everyone had a good week, checking up on our EURGBP trade now the markets have closed. We are currently 88 pips up on this trade, price is currently in a very important position for me to determine the direction for the near future.
We are in a downtrend and broker the long standing demand area. Price created a big daily demand zone where we currently sit. We could find support here and price could decide to break trend a find some bullish movement. If it looks to start breaking through the trend line then exit the trade with what you can. If we get the break through below then i think for sure we will see price visit the weekly demand zone below for TP projection. GLIYF
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bax699

Well-known member
467 100
Good morning all, Checking back in on EURGBP today. Happy to report we are 108 pips in profit as of writing. Playing our perfectly so far this trade. GBP is showing good strength and continuing the downtrend for EURGBP . I think that monthly demand zone is attracting price by the big boys. Keep holding for now, we may see another pullback to the trend line maybe, but I think we could achieve our TP projection zone. If price looks to break trend then exit the position. Remember to always lock in profit along the way, reduce positions to half and move SL to BE to give it room to move. GLIYF
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bax699

Well-known member
467 100
Good morning all, Checking back in on EURGBP today. Happy to report we are 108 pips in profit as of writing. Playing our perfectly so far this trade. GBP is showing good strength and continuing the downtrend for EURGBP . I think that monthly demand zone is attracting price by the big boys. Keep holding for now, we may see another pullback to the trend line maybe, but I think we could achieve our TP projection zone. If price looks to break trend then exit the position. Remember to always lock in profit along the way, reduce positions to half and move SL to BE to give it room to move. GLIYF
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