EURGBP Short

[TareqS]

Fantastic! As usual, your analysis and trade are perfect. I am going to keep an eye on the chart to go long as far as your analysis is concerned. Thanks a lot for sharing your chart.

 

[bigbax699]

Good morning all, hope everyone had a good week. Just thought I would update again on EURGBP . We have had the demand zone marked out for a while now, we saw price visit into the zone and wick out and form a hammer . that was my cue to buy on wed. I am aware that this is a scenario that is more on the higher side to hit my SL so I only used 1% on this trade. It's possible we could see price visit the zone again so i'll be watching to see. We could even see it dip further down, so I will either let it hit my SL or extend it depending on the strength of the move. First target is the supply zone above in the small range. If EUR gains strength then supply zone at the top of the weekly would be nice but that's a long way off yet so lets just watch what happens first. GLIYF

 

[TareqS]

The marked level is a strong support zone. The price had a long consolidation here. The bullish engulfing candle was a good signal to go long in the pair. Thanks for sharing the chart.

 

[Treacle]

Looking very good for you here

 

[bigbax699]

Good morning all, update today on the EURGBP buy taken. Price looked to of bottomed so we took the buy and we have since seen a nice reaction from the weekly demand zone . Was a fairly easy trade to take with a 26pip SL, currently we are 75 pips in profit on this position which is a nice quick and easy 1:3 R:R so far. Perfect time to close some of your position and move your SL to entry, the first barrier is almost here at the TP1 supply zone so watch out for price action at that area. Looking for a break above and continuation for a move higher. We are seeing GBP drop on most other pairs also so it goes inline with our trade here. Keep holding for now GLIYF

 

[ScottHughes]

I am staying in for the 2nd Tp area. It's meeting a lot of resistance currently though.

 

[JimmyRozza]

Looks like a nice retest of the TL there too. Very nice trade if it makes it all the way

 

[bigbax699]

Good morning all, hope everyone has had a good trading week. Last day today so just updating on the EURGBP long position we took. Price has continued in our desired direction. Currently we are 135 pips in profit. Our SL was 26 pips so we have so far achieved 1:6 R:R which is great for an intraday trade. I have moved my SL to 80 pips in profit which is just over 1:3 R:R and will just let it do its own thing now. I suggest if you followed to do the same, then we can concentrate our attention on other pairs. Looking for a retest and continuation to our TP2 area. Hope everyone has a good weekend. GLIYF

 

[Treacle]

Was heading for TP2 earlier but looks like NFP stopped it in its tracks

 

[Jim B]

I don’t usually trade on NFP day personally, but it looks like you were doing well with this trade. Looking good for the tp2 though I think.