EURGBP Short

[bigbax699]

Good morning all, new week has show us that GBP has some good strength. Back to EURGBP and as we can see we have got some downside movement going on. What I am looking for is a buy from the demand area's, something similar to what we can see from the chart to the left. The two demand area's I have drawn up we know are strong, so ideally that is where I would like to buy from, the bottom demand area being my favored buy. But either one we will take, so mark your charts up ad wait for price to come to us. GLIYF

 

[JimmyRozza]

Do you think the 0.84 area will see the bottom of the higher timeframe downtrend?

 

[TareqS]

The price seems to have found its support around 0.85000. The price had a bounce earlier at that level. If it produces a good bullish reversal candle here, the buyers may push the price towards the North.

 

[pezz55]

Good morning all, new week has show us that GBP has some good strength. Back to EURGBP and as we can see we have got some downside movement going on. What I am looking for is a buy from the demand area's, something similar to what we can see from the chart to the left. The two demand area's I have drawn up we know are strong, so ideally that is where I would like to buy from, the bottom demand area being my favored buy. But either one we will take, so mark your charts up ad wait for price to come to us. GLIYF
View attachment 68892

Nice idea and set up. I had something very similar set out for this pair but it has broken through my first area of interest so now i am looking further down more like your second set up idea but will still be targeting the high you have marked out in the red box. from here i would like to see a good change in structure for the rest of the year

 

[bigbax699]

Good morning all. It's been a while since I last had a trade on EURAUD . I have been waiting for price to visit one if my marked supply or demand area's. Well today that day has come as we can see price has pushed up well and currently sitting in that untouched supply zone previously created. If price finds some resistance here then I would like to take a sell back down to the demand area below. Nice R:R on offer of almost 1:4 depending where we enter. Keep an eye out on this one on lower time frames for signs of any reversals then enter. Should be a fairly easy one to take. GLIYF

 

[TareqS]

The last swing may work as a level of resistance as you have suggested here. If the chart produces a strong bearish reversal candle, the sellers may push the price towards the downside. The risk-reward looks very lucrative as well.

 

[AliForexTalks]

The Pound has undergone a recovery as the twin risks of Brexit and Covid have subsided. This may keep the EUR/GBP pair down in the near term

 

[Treacle]

Some good profits to be made there if it comes off

 

[sam.peters]

Risk reward on this looks really promising, thanks for sharing Bax.
Keen to see what your predictions are looking like with this open.

 

[bigbax699]

Good afternoon all, its Monday and the new trading week is underway. EURGBP has continued to move in our desired direction. The last post on this pair I was looking to sell from this supply zone . Well the daily candle at that time closed perfectly for us as a nice big doji . Entered on the daily open candle with the stop loss above the previous high of the last candle. Currently we are 87 pips in profit and 1:3 R:R So we can lock in 1:1 profits here now and continue risk free knowing we have secured profits. Looking to hit the demand zone below. So keep holding and ill update again in a few days. GLIYF