Oh yes. I also noticed the same thing. Well, looks we’ll have to set for a nice entry for a short. Thanks for sharing the analysis.
We’ve finally had some movement in our direction on the EURGBP trade. I advised to stay in if you went in on the initial breakout, was clear to me breaking both trends and candlestick price action that we would see it drop .
Depending on where you entered the trade we are currently around 120+ pips in profit. Make sure you move your SL into some profit to lock it in, then you can keep moving it down the further we drop . Price has currently stalled at the expected demand zone i marked out. We could see some consolidation here before the next move, all going well we could hit projected TP. Remember to lock in those pips GLIYF
Good morning, monday is here new trading week upon us, although labor day in the us so volume will be a bit weird today. I hear some brexit news is out this week so may be why the EUR has had a bit of a push this morning. But looking at EURGBP on our sell trade, this looks to be a classic break and retest of a level zone. So going back to our sell if you missed the trade this could be a perfect opportunity to get in or you can stack trades if you sold originally. BUT only if the daily candle closes below this zone. if we break above then its possible we could see it hit the down trend above. Wait until the daily candle closes then look for rejection signs and then enter. GLIYF
Todays post is mostly a lesson, in to why we wait for our entry and dont just blindly enter because it looks like a good setup. My last post on EURGBP was looking for price to stall at the small resistance zone , maybe give us a doji candle and then sell off again. but as we can see price went straight through that zone and the down trend. Im still bearish on this pair as its a very expensive price for EURGBP . But i think we will see a visit to the supply zone marked out above. Ive posted my next setup, remember wait for price to stall in that zone and when we see bearish price action only then enter the sell. SL just above the zone gives us a nice R:R. GLIYF
Todays post is a lesson in the style of trading tool syou have at your disposal. Ive been looking for sells on EURGBP for over a week now in terms of trend line breaks and patterns. But what price has done is shot way past all of the idea i had in mind of what could happen. Instead it had its price in mind of where it was going to. It just so happens that price went right up to the supply zone from August 2020. This is why its vital to also draw out your horizontal zones of supply and demand as price will most likely visit there again. We have had a reaction and a couple of bearish daily candles, GBP looks to be strong at the moment so ive sold from the top here. Give us good R:R of 1:3 minimum, we just have to be careful it doesnt use the demand zone below to push price higher again. GLIYF
Boom and there she blows, or drops as is the case ! Nice analysis as always mate and will enter once we get that nice retest, enjoy your weekend too chap
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After getting the bearish candle from the supply zone i reported last time on EURGBP price has moved nicely for us. We got some development of about 100+ pips. Price currently sits 50+ pips in profit as it bounced from the support of the moving averages. Still not totally convinced yet, for me we need to see price stall right here at this small resistance point. So i made the trade risk free and will ride it out. Defo one to watch this coming week. if you followed make sure you lock in those profits. GLIYF
the risk is now centred around GBP - previously as I pointed out earlier it was Euro based (euro strength as witnessed by Eur/Usd.)
So if the UK and EU reach a trade deal the cross will fall, if not it will continue to rise - it’s that simple.
Markets have been a bit of a bloodbath this week on some pairs. EURGBP has seen some movement, we got the pullback in price as expected, it moved up a little more than i wanted but it did close in my marked out zone. Looks like its made a jagged M pattern and a lower high and moving back down again. Keep on holding this position weve had over 150 pips so far, currently 90 in profit. We should see another push down over the next few days. Make sure its risk free and ride the train. GLIYF
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How long you going to hold for?
Good morning everyone, new week upon us and as expected EURGBP is dropping nicely in our favor. We are currently sitting in 170 pips profit on this one.
Looking good for TP projection, if we get through this zone then it should go all the way. Keep holding and always lock in your profits, dont give any back to the market. GLIYF
End of the week today all, checking in on our EURGBP trade. Currently 180 pips in profit. Structure is still bearish making lower highs and lower lows. Could do with this zone breaking here for a nice drop to make a newer lower low, then onto TP. NFP today also, so if USD has a good day then it will make EUR weaker which is an advantage for us. Keep holding and have a good weekend GLIYF
Todays check up is on our sell on EURGBP . WE got a nice sell in from the top and currently we are sitting in 220+ pips profit. Worked out just as planned. Although we might see a little pullback in price soon, i think we could get full projection to the marked out zone. you can either take profits here then sell again on a pullback to trend and lower high made or keep holding. choice is yours. GLIYF
Still currently 150 pips in profit on EURGBP . We have peaked at 220+ pips in profit. Obviously when you take profit is down to yourself and when your happy too. Structure is still bearish in price action and its still respecting the downtrend currently so im staying in. EUR has been strong lately so if it does break above then i will most likely take all profit there. If not and structure holds ill keep holding. GLIYF
Looks like we have had a fake out on EG. EUR has been pumped alot lately, might even be due to USD weakness. I was watching for price to retest the breakout but it has come straight back through the trend line and it seems to be continuing our bearish trend still. Currently 222 pips up still we can keep holding, just need to make a lower low here for me to be totally happy. GLIYF
Looking back on our EURGBP Sell trade today, price looks to be stalling at the moment. In fact most of the market seems to be slow moving. I think its waiting for the US elections to come into play. We are still making lower highs but yet to make a lower low. We have been in this trade some time now so you can take profits if you wish. When the election happens USD will make EUR move alot as its an inverse currency. Might be a good idea to take profits anyway so we dont give them back to the market. still over 150 currently so not a bad haul at all. GLIYF
Good morning all, new trading week begins. Big one this week with NFP, and the US elections aswell as other monthly news figures. Over the weekend we say the UK announce another lockdown, so naturally gbp weakened, but only slightly, most of this virus events are priced in the markets now. Price almost came to our full TP projection, we just touched the top of out circled zone at the bottom of the wedge which was 250 pips. If you got out when markets opened you should be over 200 pips. I think we will still go down from this zone of resistance it now sits at.Bring SL right down as the elections should make prices in the markets go wild. GLIYF
Well TP projection zone of our trade was finally hit. It took a long time but there was plenty of times to take profit and re enter or stack along the way. Just pleased that price as respecting the analysis and short term price action. 300 Pip profit acheived so not bad at all. Thankfully before the US president is elected so were out of the markets before the madness starts. Id like to look for another sell on this pair i still think price is high on average. But will wait for a breakout and retest on that one after the election madness stops. GLIYF
Looking on EURGBP again today and its just a show of how you can profit intraday on positions. Ive always said the average price of this pair is high and would only look for sells. Well this graphic just shows you how easy it can be to make intra day trades and bank profits on the regular. We took a TP on this trade but it took a good few weeks. But this highlights on a downtrend where you can sell on the lower high’s- time and time again. Just watch price on the daily TF then move to the lower for that reversal sign and then open your position. Pretty easy stuff, id like to see this break a bit lower first and again i would sell on the lower high if it forms one. GLIYF
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Leebax
this is so cool and a nice HL and LL.