EURGBP Short

[Glastonburyk]

Good morning all, looking over the charts today ready for next week. Again as I relate back to my YT video at the beginning of the week I advised to take the buy on this pair. We got a couple day's of slow bullish momentum, then Friday's news release gave us the huge engulfing bull candle. Currently sitting at 127 pips in profit for a return of around 1:4 R:R.
Is the EUR fighting back now? I thought it was last time we bought from this area, the double bottom may be the key here for the turn in trend. Set your Sl to break even or at 1:1 to secure the trade and lets see what next week brings before we look to close out, as if we fail to break the previous high then we can close out for full profits and wait for the next setup. GLIYFView attachment 76169

I got entry at the bounce

 

[Jim B]

Nice amount of pips there mate looks like a good trade.

 

[RachelEB]

0.83700 would be a nice retracement level before continuing up.

 

[sebking1986]

Really nice impulse move away from entry to give you options on the trade. Great to see.

 

[bigbax699]

Good morning all. Just a quick update today on our EURGBP buy trade. This has been a nice fairly quick trade to come to fruition. Currently we are 177 pips in profit which is almost 1:6 R:R. TP is almost in sight but we look to be at a level from where we have reversed in the past. So i will either say take full TP here and enjoy the pips. Or close half of your position and let the rest just run to either hit your SL or keep going should the trend continue. If we get a breakout of the channel above, we can look to re enter or stack the position My Sl is at 1:1 and I have closed half writing this. will update again in a few days. GLIYF

 

[JimmyRozza]

That's a good idea to take 50% profits early. Been a few times in the past a trade has reversed a few pips below TP. I might start doing that too.

 

[sebking1986]

I think taking the bulk off now is sensible with that return locked in now. I'd be leaving 20-25% on to see if the high is cleared and raise the stop to the mini high before the entry.

 

[TareqS]

Your analysis was spot on. The price had a strong bounce at the trendline's support and headed towards the North with very good momentum. Thanks for sharing the chart.

 

[momo3HC]

This I call fast and profitable trade.

 

[ForexTus]

This I call fast and profitable trade.

They don't come to often so gotta take them while you can haha