Looks like a classic break and retest
The level of 0.86000 seems to be working as a level of support. The price has been bullish since it had its second bounce. We may see some good bullish move in the pair soon.
Really nice trade, thats what i look for most in my strategy too
EURGBP short term set up this week.
Looking for GBP to find some strength this week against the EUR.
With the new PM in place and the current set up. EUR failed to make a new high so will be looking for a short term sell set up to form and break back down in to the wick low.
As you can see this would fit the fib but there is also an area marked above that i will watch if we continue to drive up.
Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading.
Thoughts on the markets at the moment?
Agreed with this - fully expecting EURGBP to continue down for months personally.
Congrats for the TP hit.
The pair after making a good bearish move in the H4 chart found its support at 0.85800. The price had a rejection at the same level earlier as well. The sellers may wait for the price to make another breakout at the level to go short in the pair.
EURGBP
Looking at the current markets and the liquidity drive for this pair i can see bias for a short term buy set up.
With the interest rates for GBP and USD set to come out will be a good driver for the markets.
I will be looking to get in this set up for the short term looking at a 1/2 risk trade for each trade idea.
This idea would break the 4 hour trending patten and take out sellers liquidity. form there we will see what the market gives us.
Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading.
Thoughts on this pair at the moment?
That was a corker of a trade, picked up your entry perfectly
Brilliant trade mate, well done
EURGBP
Looks like this pair came up nicely and cleared out the sellers from the previous highs, form here i am not looking for this pair to come back down to the discount side and back in to the FVG gap.
as you can see we are looking to sweep the previous range and on to an area of interest along with 79% of the fib level.
If this comes in to play at the right trading session we will have 3 confluences to enter the set up.
Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading.
The pair made a bearish move and then found its support at 0.87000. It seems to be bullish from there. The buyers may push the price towards the last swing high.
Got a weekly we may continue up a bit, collect some liquidity and then continue down on this pair. There is an unfilled weekly wick from a few weeks ago that need collecting.
EURGBP
This pair is pulling back and slowing down, coming up and cleared out the sellers from the previous highs, I feel with the low resistance area marked up we could see this pair target higher liquidity before coming back down to the FVG and taking out the internal liquidity.
As you can see we are looking to sweep the previous range and on to an area of interest.
If this comes in to play at the right trading session I will be looking for a lower TF break of structure.
Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading.
How is your trading going?
On the weekly/monthly we are still looking bearish. So I would expect price to continue down. Still monitoring that unmitigated weekly wick before I look for shorts though.
EURGBP
This pair has push down well over the last few weeks from the area originally marked out.
We have come down to a key discount level and am looking at the 70% and 79% fib levels for a short term buy option.As you can see there is an imbalance that has been marked out and am looking for this to be filled before we make a short term drive up.
If this comes in to play at the right trading session I will be looking for a lower TF break of structure.
Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading.
Really nice imbalance to fill. Ill be keeping an eye for the institutional sponsorship
A lovely long entry this week, gutted I missed it
The price had multiple bounces at the level of 0.85700. The buyers may keep their eyes in the pair to go long above the level of 0.86500.