EURGBP Short

sebking1986

Member
96 27
I always look at GBPUSD with this pair and on balance think a short is on from here with GBP gaining a bit and the USD too. Between GBPUSD longs and EURGBP shorts I would say the latter is the safer bet.
 

bax699

Well-known member
448 84
Good morning all, new week has show us that GBP has some good strength. Back to EURGBP and as we can see we have got some downside movement going on. What I am looking for is a buy from the demand area's, something similar to what we can see from the chart to the left. The two demand area's I have drawn up we know are strong, so ideally that is where I would like to buy from, the bottom demand area being my favored buy. But either one we will take, so mark your charts up ad wait for price to come to us. GLIYF
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bax699

Well-known member
448 84
Good morning all. It's been a while since I last had a trade on EURAUD . I have been waiting for price to visit one if my marked supply or demand area's. Well today that day has come as we can see price has pushed up well and currently sitting in that untouched supply zone previously created. If price finds some resistance here then I would like to take a sell back down to the demand area below. Nice R:R on offer of almost 1:4 depending where we enter. Keep an eye out on this one on lower time frames for signs of any reversals then enter. Should be a fairly easy one to take. GLIYF
Screenshot_1.png
 

bax699

Well-known member
448 84
Good afternoon all, its Monday and the new trading week is underway. EURGBP has continued to move in our desired direction. The last post on this pair I was looking to sell from this supply zone . Well the daily candle at that time closed perfectly for us as a nice big doji . Entered on the daily open candle with the stop loss above the previous high of the last candle. Currently we are 87 pips in profit and 1:3 R:R So we can lock in 1:1 profits here now and continue risk free knowing we have secured profits. Looking to hit the demand zone below. So keep holding and ill update again in a few days. GLIYF
Screenshot_1.png
 

bax699

Well-known member
448 84
Good morning all, another week begins. As always nice to report a TP hit. EURGBP continued right down and hit the demand zone we was aiming for. Nice simple daily range and an easy 162 pips with a lovely 1:5 R:R returned. In sharprish time too. But what is next? Well support could form here for a buy back upwards. GBP is very strong currently and EUR has been weak, but will that soon change? I've included the monthly and weekly charts today for some perspective with those ranges. Id like price to visit the weekly demand zone below as its nice and strong so we may see a good reaction from there. Keep watching for now at those levels and see what presents itself. Enjoy the pips for now ill update again in a few days GLIYF
Screenshot_1.png
 
 
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