EURGBP Short

[bigbax699]

Well TP projection zone of our trade was finally hit. It took a long time but there was plenty of times to take profit and re enter or stack along the way. Just pleased that price as respecting the analysis and short term price action. 300 Pip profit acheived so not bad at all. Thankfully before the US president is elected so were out of the markets before the madness starts. Id like to look for another sell on this pair i still think price is high on average. But will wait for a breakout and retest on that one after the election ma

dness stops. GLIYF

 

[bigbax699]

Looking on EURGBP again today and its just a show of how you can profit intraday on positions. Ive always said the average price of this pair is high and would only look for sells. Well this graphic just shows you how easy it can be to make intra day trades and bank profits on the regular. We took a TP on this trade but it took a good few weeks. But this highlights on a downtrend where you can sell on the lower high's- time and time again. Just watch price on the daily TF then move to the lower for that reversal sign and then open your position. Pretty easy stuff, id like to see this break a bit lower first and again i would sell on the lower high if it forms one. GLIYF

 

[bigbax699]

Todays pair EURGBP is in a funny place for me. The support zone below is a strong one. We have reversed from here multiple times. So for this current bear trend id like for price to break it before i sell it around here. Another lower low under that zone and then sell on the lower high would be my ideal situation. We could look for buys at this support zone below, but i think overall its likely to come down for more pips than up. Let me know your thoughts GLIYF

 

[bigbax699]

Morning all new week upon us. Last time i looked at EURGBP i was hoping for price to drop through the 0.89 level. But it found support and the vaccine news has helped price come back up. The trade idea i have is from the level above with the confluence of the trend line . Watch for resistance forming on lower timeframes at that zone for entry. nice 1:4.4 R:R on offer with this setup back down to bottom of the wedge . GLIYF

 

[bigbax699]

Back on EURGBP today and im watching carefully on lower timeframes for price to reject this area. If we get reversal signs on the 1H/4H time frames then i will be entering. Plus if the daily candle closes below the trend line then were in business. Remember dont blindly just enter look for bearish signs on lower timeframes first. Nice R:R 0f 1:4 on offer with this setup. GLIYF

 

[MoBest]

Very helpful thread. Bookmarking it.

 

[Colin Lewis]

Not the best pair to be trading this week will be interesting to watch Brexit shake it up for a final time

 

[bigbax699]

New week begins, back to EURGBP . Cant make it any easier for you to follow. Surely if you followed the last chart i posted you would of sold the rejection from the level marked out. Currently running 120 pips in profit. Price is at a little support zone . So i say it again Move your SL into profit and make sure you lock them in and not give any back to the markets, just incase support is found and we see a turn up. We can always re enter again if it comes back to entry levels. have a good week all GLIYF

 

[bigbax699]

Good news checking in on our EURGBP sell today. Price has dropped through that little support shelf. Naturally id like to see it create a little lower high for another push lower. Keep holding for now. i would suggest in moving your stop loss around 100 pips in profit, currently 130 . just to guarantee some profits as there's vital Brexit deadlines this month and anything can pop up at any time. Best to reward with at least 100 pips for xmas GLIYF

 

[MoBest]

100 pips is mare than fine sometimes.