EURGBP set up ideas and possible trades.

pezz55

Sergeant
Messages
193
EURGBP idea

Ok so from last week I closed off my sell position in profit. With the drive down stalling and consolidating its time to look at the next set up.

Currently with GBP on bank holiday this week I will be looking for EUR to have some strength.
We have relative equal lows and a fib retracement level to use as confluences going in to this trade.
Where I have my entry we have an imbalance in price that would be good to be filled in this only needs to be 50% of the candle so looking at London open if we break down to the zone then Keep a close eye on market structure.

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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pezz55

Sergeant
Messages
193
EURGBP Buy set up

I was looking for this pair to drop down last week but we never got the set up.
Instead this pair came up and made relative equal highs and has broken back down quickly today.
Using the fib on this set up I will be looking for an entry between 70% and 79% where we will break down in to the liquidity below and the imbalance in price.
Ideally price will reach the 79% and the top of my grey box area which is the top of the last bullish candle.

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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pezz55

Sergeant
Messages
193
EURGBP

Looking to take the highs out from last year and making good progress. With this pair I am overall bullish at the moment on the higher timeframes but will also be looking to sell it short term on the extreme moves like these.

Looking for the next area where we could get a reaction and to the left of the SL zone are relative equal highs and I solid amount of liquidity taken so would start looking for the short term retracement and the gathering of orders before the next leg up.

With any of these set up's we are looking at higher timeframe areas of interest and then dropping down to lower timeframes for entry's. Looking for a smaller TF break of structure and then retest of the area in to an entry move.

Key entry and price action will be needed.
Make sure you use proper risk management when trading.
Let me know how you get on.
ERUGPB liquidity grab.png
 

sebking1986

Private
Messages
595
I wouldn't like to try and predict the top at the moment. Rather wait for it to turn and break structure and then get in on a short when it happens.
 

JimmyRozza

Master Sergeant
Messages
260
EURGBP

Looking to take the highs out from last year and making good progress. With this pair I am overall bullish at the moment on the higher timeframes but will also be looking to sell it short term on the extreme moves like these.

Looking for the next area where we could get a reaction and to the left of the SL zone are relative equal highs and I solid amount of liquidity taken so would start looking for the short term retracement and the gathering of orders before the next leg up.

With any of these set up's we are looking at higher timeframe areas of interest and then dropping down to lower timeframes for entry's. Looking for a smaller TF break of structure and then retest of the area in to an entry move.

Key entry and price action will be needed.
Make sure you use proper risk management when trading.
Let me know how you get on.View attachment 77568
You caught that move like a champ. It dropped like a rock from there!
 

sebking1986

Private
Messages
595
Bullish overall so wouldn't want to be selling it. Think your setup was stopped out by the wicks wasn't it?
 
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