EURGBP set up ideas and possible trades.

Petezaa

Private
Messages
229
Bullish continuation on this pair going forward I reckon. Made a few nice impulses on the daily and broke structure.
 

pezz55

Sergeant
Messages
193
Bullish continuation on this pair going forward I reckon. Made a few nice impulses on the daily and broke structure.
1652191714823.png

EURGBP

We have been seeing some good up moves from this pair recently.
As you can see from the chart we are near the top of the buy side move.
There is a nice area to the left and we have now set out relative equal highs, so I will be looking for a liquidity grab above the equal highs and then a short term drop.
From here I would like to see it push back up higher long term so will not be holding the position to long and taking profits at sensible times.

If we get this move then we will need to see how the market reacts at the pervious low before our next move.
 

Glastonburyk

Corporal
Messages
113
View attachment 76620
EURGBP

We have been seeing some good up moves from this pair recently.
As you can see from the chart we are near the top of the buy side move.
There is a nice area to the left and we have now set out relative equal highs, so I will be looking for a liquidity grab above the equal highs and then a short term drop.
From here I would like to see it push back up higher long term so will not be holding the position to long and taking profits at sensible times.

If we get this move then we will need to see how the market reacts at the pervious low before our next move.
Solid set up mate I’m in
 

pezz55

Sergeant
Messages
193
EURGBP

Took a nice short term sell from the area I had marked up and we broke down nicely back in to the buy side area of the structure.

From here and with FOMC speech tonight and GBP CPI tomorrow I will be looking for this pair to continue back up.

The retrace of this move has broken the trendline traders out of the market and looking to take liquidity below short term lows and back in to buy side imbalance in price.

With the use of a fib you will see the area marked out is between 70% and 79%.
There is a nice area to the left and hold the higher timeframe lows.

If we get this move then we will need to see how the market reacts at the pervious high before our next move.

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. Let me know how you get on.
1652881185882.png
 

pezz55

Sergeant
Messages
193
EURGBP

Last weeks set up never came down to my entry level and then moved away.

now we are looking to sell this pair back down again like we did before. With a retracement of over 79%
Daily structure is bullish and this is only a short term set up down to the buy side liquidity area.

With EUR and GBP news tomorrow this could be a swift move.

If this move plays out then I will be taking partials at 50% of the move and then see how we react around the lower levels at the time of the news events

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. Let me know how you get on.
 

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