EURGBP Short

bax699

Well-known member
472 101
Evening all, markets open soon so just checking in on our EURGBP trade. Currently 125 pips in profit and price has moved over to where i expected just under the trend line . i think this weeks opening is going to be vital to our sell trade. Its either going to drop from around this area or slowly break through the trend line and then visit the supply zone above. If you see it starting to break through then i would get out of the trade with profits and look for the next opportunity. Have a good week all GLIYF
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bax699

Well-known member
472 101
Its been a week since we last had an update on our EURGBP sell position. The whole of last week price just consolidated in that small range right over to the trend line . This is where the bigger players are accumulating positions to take it in their direction next. If you're still holding the sell position with me then be ready to close if we break above the trend. If we get rejection this week then TP will surely be hit. Have a good week all. GLIYF
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bax699

Well-known member
472 101
Good morning all, new week has begun with a nice push on EUR pairs. So I exited our sell on EURGBP with 120 pips. Cant complain really a nice haul for the account. Onto the next setup and I am still inclined for the sell off. I think we will see a little push up here to the supply zone above, before we see another drop. So same entry level but wait for price to visit the supply zone OR the moving average (53) coming down acting as dynamic resistance. I think it may reject of one or the other. Set your levels and wait for price rejection before selling. GLIYF
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bax699

Well-known member
472 101
Good afternoon all, EURGBP has continued in the downtrend. Last time I exited my trade on this pair with 120 pips profit. I since re-entered on the 50% candle supply zone created. Again im just over 100 pips in profit on this setup. If you held from the first entry then you should be around 180+ pips in profit currently. We have dropped through demand so I expect more downside movement, maybe after a little consolidation. Hopefully you entered on either one so hold for now. GLIYF
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bax699

Well-known member
472 101
Its been a while since I updated EURGBP . We were in a sell riding the trend down. I peaked at over 130 pips profit on my second entry area. But I exited the trade at 80 pips when the bullish engulfing candles formed. I'm pretty sure you all did the same when you saw the bull strength come into the pair. But what next... Well we have broken above the trend line and also more importantly above the moving average where we see price currently. But for me to buy i would like price to break above this little daily supply zone and then buy the re-test to go long. Patience on this pair to see where its heading next. GLIYF

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bax699

Well-known member
472 101
New week has begun, and its been almost 3 weeks since I have looked at EURGBP . Mainly because it has done nothing of interest. Last time on this pair we sold from this supply zone under the trend line and exited for 80 pips after the bullish candles formed. But still price has come back up to this daily supply zone and hasn't broke since. We have literally just moved sideways. No real direction, the EMA is flat lined. But still My favoured trade would be to sell from this supply zone back down. But if we see a break above then we will take the buy. Let the market show you what it wants to do and join along for the ride. GLIYF
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bax699

Well-known member
472 101
Good evening all. Just a little update on the EURGBP trade that I took. Last time out I had cornered the market. i was mostly looking for the sell as the supply zone price was sitting at was holding for many days. We got the breakout as desired and I entered after the daily candle breakout closed. Nice little pullback on the 4H timeframe under the EMA so was fairly easy to take. I hope most of you also managed to take it too. You could of even sold from the top at the supply zone and been in even more profit. Currently sitting just under 50 pips up on this trade. Looking for 170 down to the demand zone below for a 1:3 R:R. If you followed move SL to break even and let it ride. GLIYF
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bax699

Well-known member
472 101
EURGBP has continued in our desired direction. WE got the breakout as we wanted and then price had a pullback. Went into drawdown slightly but nothing to worry about. Today's candle is a very impulsive bearish engulfing candle. So I would expect from here to go on and reach our projected TP zone. Keep holding for now I would hope we get there this week, maybe after a doji candle tomorrow. Currently 66+ pips up, i wouldn't move SL on this trade until were over 100 pip sin profit. GLIYF
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IceThor

Active member
142 33
EURGBP has continued in our desired direction. WE got the breakout as we wanted and then price had a pullback. Went into drawdown slightly but nothing to worry about. Today's candle is a very impulsive bearish engulfing candle. So I would expect from here to go on and reach our projected TP zone. Keep holding for now I would hope we get there this week, maybe after a doji candle tomorrow. Currently 66+ pips up, i wouldn't move SL on this trade until were over 100 pip sin profit. GLIYF
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You know your stuff.
 

bax699

Well-known member
472 101
Good evening all, hope your trading week is going well. Updating on EURGBP sell that we took. Price has been pretty slow after the engulfing bearish candle we got in our favor. But I believe we will soon get another leg down towards our TP zone a sit looks to be a bearish flag formed right under the trend line . The moving average should catch up and then we will see price move. Price is currently 66 pips up, keep holding for now we should see some more impulsive movement soon I would think. GLIYF
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jackpotgo

Newbie
4 0
Didn't trade this one, the last two bars look attractive to enter a short trade setup, will see whether can go in today.
 

bax699

Well-known member
472 101
Good morning all, checking back in on the EURGBP sell position today. This pair has been slow of late. We have re visited the entry price a few times since we first took the trade. Price is moving in our desired direction as expected but albeit slowly. I think some COVID news will help this pair move trend wise next. Saying that you could of took profits and entered again at the same price multiple times profiting from the same setup. I think we will still continue to hit our projected TP zone so keep holding for now. GLIYF
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bax699

Well-known member
472 101
Evening all, FOMC certainly caused some movement in the markets today. It needed it as it was moving so slowly. The good news is that a strong USD makes EUR weaker. Hence good for our EURGBP trade we are in. Price is now at our maximum profit since opening. In order to hit TP zone we need to break this current demand zone we find ourselves in which seems very strong. If we can break below then TP is golden. 110 pips up on this setup currently. Who says trend lines dont work lol. GLIYF
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