EURGBP Short

ScottHughes

Corporal
Messages
84
I can see eur selling this week and see GBP strength so a decent short opp could come into play here for plenty of pips
 

bigbax699

Recruit
Messages
35
Looking back at EURGBP today and it looks now like a classic big break and retest on the daily. EUR has some some big strength lately due to them pumping more fake money into the economy. The markets like that and we saw a rise in EUR pairs across the board. But i think it will be short lived, its not sustainable. So im looking at this short opportunity from this level. Nice R:R of 1:3+ with a 78 pips stop and over 200+ pips back down to previous support below. nice easy trade, risk management as always, GLIYF
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ForexViking

Recruit
Messages
130
EUR think had good news with payout for covid. I’m looking to short now though awaiting confirm at res and seeing where it’s going. :)
 

Gerogemabel414

Recruit
Messages
1
Thanks for the analysis. Have been going through the previous ones as well, they look detailed and appropriate. Would be looking forward to more.
 

bigbax699

Recruit
Messages
35
Today ive taken a short on EURGBP . the GBP looks to be bullish across the board to me and EG is high on price on average. Small ish stop at 47 pips for just over a 1:2 R:R. Looks to be a messy M formation double top setup so lets see how this one plays out. GLIYF
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bigbax699

Recruit
Messages
35
TP hit on EURGBP since i last made the call short. It made it down there the first time i called the short. Since then we had a retracement back up to our entry zone so you could of got a second trade or got in the second time if you missed the first. nice and easy sells from resistance for 95 pips.
Next trade im looking at is to sell the underside of the support, we need to see a break below, then sell on the retest. Might take a day or two to plan out, happy monday lets have a good week GLIYF
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bigbax699

Recruit
Messages
35
Markets open tomorrow so having a nice look ahead at whats going on. I thought this was a nice chart to show even more education on range trading and how easy it can be. Usually its for intra day traders when price is stuck in smaller ranges on the lower timeframes, but here on EURGBP we can see that we have been stuck in this range for a couple of weeks. Our first trade we took the sell and it hit TP, i then reported back and we had another opportunity to take the exact same trade, which again also hit TP. We're back here again the 3rd time, so if youve been watching this you should know what to do, wait for momentum to stop and sell that sucker. These have been some very easy trades to take. Hope everyone has a good week coming GLIYF
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Alex Bainbridge

Private, 1st Class
Messages
27
Well well well. A look back at EURGBP and i have been saying for a long time this is going down. Initially from the 0.9 area and also since xmas too. Weve been in this small wedge and its ended with a break out below the support area .

This gives us a simple rule set for a nice entry for a short. That's if you havent already been short since we last looked at this pair. Wait for a pullback in price to retest the broken support and sell that sucker. Nice and easy for us all. Enjoy the rest of your weekend :) View attachment 50860
Looking good this
 

bigbax699

Recruit
Messages
35
We have been selling EURGBP for small positions for a couple of weeks now. But i think its time to go for a longer term short. We can see that price has respected the uptrend many times. It showing good strength, but also this resistance level has held price well also. In my opinion i think we will get a drop through trend soon enough and then hopefully a nice drop down to the support level below. You could either enter around this zone if your impatient like me, or wait for a break and re test of the broken trend. Both easy trades to take. Nice big R:R on offer, remember to make risk free SL after 50 pips in profit. GLIYF
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