EURGBP Short Trade

Spot on! The price has been heading towards the South with strong momentum. It seems that it may hit the TP in a hurry. Thanks for sharing your trading chart. Look forward to getting your next trade idea on this.

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

1 Like

More downside legs in this one yet I reckon

Excellent entry it was. The price moved towards your direction with strong bearish momentum. I am going to keep an eye on this pair to go long now from the zone that you have marked there. Thanks for sharing your chart.

Congrats for the another TP hit.

A good break of the support to end the week, looking for the retest and continuation short in the week ahead.

Good morning all, hope everyone had a good week. Just thought I would update again on EURGBP . We have had the demand zone marked out for a while now, we saw price visit into the zone and wick out and form a hammer . that was my cue to buy on wed. I am aware that this is a scenario that is more on the higher side to hit my SL so I only used 1% on this trade. It’s possible we could see price visit the zone again so i’ll be watching to see. We could even see it dip further down, so I will either let it hit my SL or extend it depending on the strength of the move. First target is the supply zone above in the small range. If EUR gains strength then supply zone at the top of the weekly would be nice but that’s a long way off yet so lets just watch what happens first. GLIYF

1 Like

The price has been consolidating around the marked support zone for a while. The price may head towards the North with good momentum. Thanks for sharing the chart.

Good morning all, update today on the EURGBP buy taken. Price looked to of bottomed so we took the buy and we have since seen a nice reaction from the weekly demand zone . Was a fairly easy trade to take with a 26pip SL, currently we are 75 pips in profit on this position which is a nice quick and easy 1:3 R:R so far. Perfect time to close some of your position and move your SL to entry, the first barrier is almost here at the TP1 supply zone so watch out for price action at that area. Looking for a break above and continuation for a move higher. We are seeing GBP drop on most other pairs also so it goes inline with our trade here. Keep holding for now GLIYF

1 Like

Looks like it retested the trend line if you extend it. Nice looking set up this

Good morning all, hope everyone has had a good trading week. Last day today so just updating on the EURGBP long position we took. Price has continued in our desired direction. Currently we are 135 pips in profit. Our SL was 26 pips so we have so far achieved 1:6 R:R which is great for an intraday trade. I have moved my SL to 80 pips in profit which is just over 1:3 R:R and will just let it do its own thing now. I suggest if you followed to do the same, then we can concentrate our attention on other pairs. Looking for a retest and continuation to our TP2 area. Hope everyone has a good weekend. GLIYF

1 Like

Good work again, looking for GBP to strengthen myself…

Rejecting the 61.8% retracement level I have marked, and think this will form a LH and drop again

What a fantastic entry it is! It seems your TP2 is going to be hit soon as well. I assume TP2 may make the price produce a bearish reversal. At least, it would make the price consolidate around it. Are you going to take partial profit or take the whole profit out at TP2?

Good evening all, markets open again tonight so a quick check back on our EURGBP trade. This moment in my style of trading is probably the most important, as we bought a potential reversal the high of our peak at 170 pips needs to be the higher high and we need to be making the higher low here. We are trading above the EMA and have the confluence of the trend line also, so as I said its the deciding factor for continuation. Currently just over 100 pips in profit so you can either close some of your position or keep it fully open but move your SL into profits as I did. Hope everyone has a good week. GLIYF

Partial profit taking may be the best option here. If the price makes a breakout at the resistance, the buyers may get an opportunity to go long upon breakout confirmation. TP2 should be hit in a hurry if the breakout takes place.

EUR tanking, hope you all move your SL’s

Good morning all, wow hasn’t the EUR fallen hard recently. Our buy position on EURGBP tanked hard over the past few days and took out our SL which was moved into profit’s, not bad still 1:4 almost R:R. That is why we secure along the way when we trade for these eventualities. But what is next, well we still find price sitting in this big fat demand zone . Check the range on the weekly as we can see we just keep bouncing from this weekly demand zone which is strong. So I will continue to look for longs until price breaks this demand zone . If price does break then we are looking at a big drop of 500 pips ish to the next zone. If not and price finds support look for reversal candles and be ready to buy again. GLIYF

1 Like

EURGBP is at new lows on bigger time frames, on your chart beautifully breakdown the confluence zone!
On which time frame it is?

I’ve jumped on the sellers bandwagon now so watch it start rising!!