EURGBP Short

bax699

Well-known member
450 88
Good evening all, thought I would do a quick update on the EURGBP trade we took. Price moved down in our favor since the last update but just as quickly risen again. But today its nice to see the daily candle has wicked right out from the top showing GBP strength. Currently we are 130 pips up on this trade setup. Its been a scalpers dream this pair of late, hopefully we get some more directional hard trends soon. Hold for now TP is not far away. GLIYF
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bax699

Well-known member
450 88
Good morning all new week begins so checking back on EURGBP . If anyone says trend lines don't work show them this chart lol. Look how perfectly price has respected the trendline so far on the way down. If you wanted to day trade this pair along you could of sold from that trend line multiple times over and over, very easy trades to take. Never the less our trade is still going in our desired direction, always making lower lows and lower highs. Hopefully we will see TP hit this week. GLIYF
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bax699

Well-known member
450 88
Good morning all. Our sell trade on EURGBP has taken an AGE to reach TP zone. After that very impulsive bearish candle we had near the beginning it has just been up and down daily. Perfect for intra day scalping. But very boring for a one positions holder. I am closing the long term position now and I will watch price and look for the next setup. I still think it will come down some more so I will look for the buys most likely from the demand below. I will update with a couple of options next time. Profit is profit so take it and move onto the next setup. GLIYF
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IceThor

Active member
116 27
Good morning all. Our sell trade on EURGBP has taken an AGE to reach TP zone. After that very impulsive bearish candle we had near the beginning it has just been up and down daily. Perfect for intra day scalping. But very boring for a one positions holder. I am closing the long term position now and I will watch price and look for the next setup. I still think it will come down some more so I will look for the buys most likely from the demand below. I will update with a couple of options next time. Profit is profit so take it and move onto the next setup. GLIYF
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Does not matter how long it takes if it makes profit
 

bax699

Well-known member
450 88
Good afternoon, hope everyone has had a good trading week. Today's post is back on EURGBP . The original TP zone has been hit, I did exit early as it was taking soooo long, but none the less the setup came true and TP zone was hit, so well done if you held it. Now what is next for this pair. Well if this demand zone we are almost at hold's id like to see a nice buy back up to that supply zone . If the demand zone breaks then there is a little risky sell down to the weekly demand zone , I would not prefer this trade as its small in return and we could possible be selling the bottom. The ideal trade is the buy from the big weekly demand zone right at the bottom. IT looks big and strong so we could see a nice reversal from there. Mark them all up and wait for the one that comes. Have a good weekend GLIYF
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bax699

Well-known member
450 88
Good morning all, Looking at a couple of setups for EURGBP today. Last post on this pair I was looking to buy from the demand zone but it didn't re visit. It basically reversed from the first touch and as we can now see has moved some 150 pips north. It's possible we could see a little pullback to get a nice buy in from that zone broken (1). Or we could wait to sell from the supply zone from what has happened previously (2). If the bull continues we could look to buy in from the beak and retests of those zones (3). My favored trades would be the sell's from the supply zones. But I will take what ever comes to the table. GLIYF
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hatemypips

Established member
693 59
Looks great however how do you determine supply and demand zones only using price as a source of information? Don't you think that they show what demand and supply was in the past and their future strength depends on new incoming information that drives decision making?
 

bax699

Well-known member
450 88
Looks great however how do you determine supply and demand zones only using price as a source of information? Don't you think that they show what demand and supply was in the past and their future strength depends on new incoming information that drives decision making?
i use {50% candle sticks. on zones that break previous zones etc etc. on higher timeframes also. I try to keep trading as simple as possible for myself. We cant predict the future we can only go on what has happened previously. So i just trade and dont over leverage and that should make most profitable over time
 

bax699

Well-known member
450 88
Good morning all. Today I am entering a buy on EURGBP . Last time price touched this demand area we got a nice move north of 150 + pips. I was looking to buy possibly from the zone above but price has dropped all the way back. Obviously better to buy in lower and also this could be a double bottom at this demand area. Aiming for the supply zone at the top of the range. Moving SL to entry as we move into profits to secure the bag. Nice easy setup just reacting to what has happened to the left. Hopefully history repeats itself. GLIYF
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bax699

Well-known member
450 88
Markets open again this evening, so always nice to analyze the charts when they're frozen in time. The buy I took on EURGBP has got stopped out an entry. Price failed to make a higher high and a 50% candle supply zone was formed causing price to push down. Now I am thinking that the overall weekly bearish bias is continuing and that we will see price go to the weekly demand zone below. So that's what ill be waiting for on this pair next before buying again. Mark your charts up and wait for the move to come to you. GLIYF
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bax699

Well-known member
450 88
Since I last looked at EURGBP price has continued to to drop further and we have officially broken the demand zone from the left. Price has closed below and the current daily candle looks like it could possible be a retest of the broker level. Now I was waiting for price to come down to the demand to buy which is still my ideal trade. But if there's some intraday trader's out there that just cant wait. This little sell looks like a good one down to demand. 1:2 R:R on offer. Ill still be watching for the big demand zone buy. GLIYF
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bax699

Well-known member
450 88
Good evening all markets open again soon. Taking a look back on EURGBP . I was waiting for price to come down to the big weekly demand level at the bottom (1). We saw price break the daily demand and i posted a possible sell (2) if resistance of the break was found. But as we can see it didnt hold and price has moved back bullish for a couple of weeks now. But long term we are still bearish trend . So my idea is hopefully if price reaches the supply zone (3) we can sell back down if price makes a lower high. Super easy setup wait for resistance at supply to form before entering. GLIYF
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