EURGBP Short

[MacroBeat]

Good afternoon all. I've entered a small 1% position on EURGBP . Looks like a classic break and retest to me. Yesterdays candle wicked right off the wedge , todays also tested and started wicking out so i entered on that premises. I only used a small 1% position as my ideal trade is below the support zone we are at. I will be watching this one and if we get a break and re test of the support zone then I will be stacking another larger position. GLIYFView attachment 294670

NEXT TO THAT WEDGE I WOULD LOOK AT THE DAILY CHARTS AND THE 0.8865 PIVOT, THE LOW 11 TIMES SINCE MAY 2020... A CLEAN BREAK OF 0.8865 IS REALLY GIVING YOU THE NEXT MOVE , AHEAD OF THAT LEVEL MUST MAYBE WORTH TO BE A TAD CAREFUL

 

[bax699]

Updating today on the EURGBP sell i took. Friday saw a little pullback in price on EUR pairs. Came back to entry zone, so if you missed the first entry i took there was a very easy second opportunity to take the trade. We are still making lower lows and lower highs so im still in bearish mindset for the position. Currently 40+ pips in profit, If we can break through the support on this next attempt then it should be good to drop through. GLIYF

 

[bax699]

Quick check up on EURGBP now the weeks trading has finished. Its moving in our desired direction but a little slower than i would like. Bur we can now see the EMA's spreading out in a downwards direction indicating the stat of the trend. So hopefully it continues next week and we get a more significant drop. Peaked over 100 pips in profit on this position so far, currently 70+. Ill keep holding for now. Have a good weekend all. GLIYF

 

[bax699]

Checking in on EURGBP trade. Currently 90 pips in profit, still below the support zone which held for a long time. I am seeing a spread in my EMA's, and critically pointing down which indicates a trend forming. Hopefully we can get a nice push like i have marked out previously on the chart. I would keep holding for now and set SL to BE which give us a nice buffer for price movement. Will update again in a couple of days. GLIYF

 

[bax699]

Checking back on EURGBP today. Nice to see price has followed out desired direction and analysis. Currently we sit 160+ pips in profit on the first position. If you caught this first one then keep holding. You could stack or enter if you missed it on a pullback to the support zone broken, for the next push to our TP zone. Im sure it will be upon us, but you never know. Set SL to BE and let it ride for now. Moving averages are expanded so that's a nice sign of strength coming. GLIYF

 

[bax699]

Good morning all, New week begins on EURGBP . Nice to check in and see that price is still following our desired direction to the south. Currently today we have hit the lovely 200 pip profit mark. GBP is strong across the board currently, We may see a pullback in price and create a lower high. You will most likely see it react to the EMA’s and then continue, which could be a good place to stack trades if you so wish. But for now keep holding, bank profits if you wish we should see TP zone hit soon enough. GLIYF

 

[bax699]

Checking back in on EURGBP today and happy to report price has hit our first TP projected zone. We returned 230 pips on this position. Onto the next position and i would like to see some price action similar to what we saw previous to the left in the squares. Look for price to make a lower high and to possibly reject off the moving averages. My entry position might not bee off the resistance zone above so bear in mind i will be watching price action when it gets to the EMA's. Wait for rejection and reversal signs on lower TF's. GLIYF

 

[bax699]

Good afternoon, Markets have alot of movement at the moment. We are seeing a lot of trending price action that's for sure. GBP is very strong across the board. On EURGBP price has broker the long standing demand from march 2020. Which Should open the doors for further movement to the weekly demand area's sitting below. But first i thin we could get a pullback to refuel the tanks for the move. Im looking at the trend line or possibly the supply zone that gave the push for the break of demand for a sell. Wait for this to play out and look for those positions for price to play out. GLIYF

 

[bax699]

Good morning all, new week begins and today were updating with EURGBP . Entered the trade on friday with the rejection in price from the supply zone that broke the long standing demand zone . Currently a modest 68 pips in profit, but more importantly it was the correct idea of the trade pulling off which was important. What we need now is for price to break through the newly made demand zone to achieve our TP zone on the weekly demand below. Have a good week all GLIYF

 

[bax699]

Good morning all. Hope everyone had a good week, checking up on our EURGBP trade now the markets have closed. We are currently 88 pips up on this trade, price is currently in a very important position for me to determine the direction for the near future.
We are in a downtrend and broker the long standing demand area. Price created a big daily demand zone where we currently sit. We could find support here and price could decide to break trend a find some bullish movement. If it looks to start breaking through the trend line then exit the trade with what you can. If we get the break through below then i think for sure we will see price visit the weekly demand zone below for TP projection. GLIYF

 

[bax699]

Good morning all, Checking back in on EURGBP today. Happy to report we are 108 pips in profit as of writing. Playing our perfectly so far this trade. GBP is showing good strength and continuing the downtrend for EURGBP . I think that monthly demand zone is attracting price by the big boys. Keep holding for now, we may see another pullback to the trend line maybe, but I think we could achieve our TP projection zone. If price looks to break trend then exit the position. Remember to always lock in profit along the way, reduce positions to half and move SL to BE to give it room to move. GLIYF

 

[bax699]

Good morning all, Checking back in on EURGBP today. Happy to report we are 108 pips in profit as of writing. Playing our perfectly so far this trade. GBP is showing good strength and continuing the downtrend for EURGBP . I think that monthly demand zone is attracting price by the big boys. Keep holding for now, we may see another pullback to the trend line maybe, but I think we could achieve our TP projection zone. If price looks to break trend then exit the position. Remember to always lock in profit along the way, reduce positions to half and move SL to BE to give it room to move. GLIYF

 

[Hi3rophante]

nice man

 

[bax699]

Evening all, markets open soon so just checking in on our EURGBP trade. Currently 125 pips in profit and price has moved over to where i expected just under the trend line . i think this weeks opening is going to be vital to our sell trade. Its either going to drop from around this area or slowly break through the trend line and then visit the supply zone above. If you see it starting to break through then i would get out of the trade with profits and look for the next opportunity. Have a good week all GLIYF

 

[bax699]

Its been a week since we last had an update on our EURGBP sell position. The whole of last week price just consolidated in that small range right over to the trend line . This is where the bigger players are accumulating positions to take it in their direction next. If you're still holding the sell position with me then be ready to close if we break above the trend. If we get rejection this week then TP will surely be hit. Have a good week all. GLIYF

 

[bax699]

Good morning all, new week has begun with a nice push on EUR pairs. So I exited our sell on EURGBP with 120 pips. Cant complain really a nice haul for the account. Onto the next setup and I am still inclined for the sell off. I think we will see a little push up here to the supply zone above, before we see another drop. So same entry level but wait for price to visit the supply zone OR the moving average (53) coming down acting as dynamic resistance. I think it may reject of one or the other. Set your levels and wait for price rejection before selling. GLIYF

 

[bax699]

Good afternoon all, EURGBP has continued in the downtrend. Last time I exited my trade on this pair with 120 pips profit. I since re-entered on the 50% candle supply zone created. Again im just over 100 pips in profit on this setup. If you held from the first entry then you should be around 180+ pips in profit currently. We have dropped through demand so I expect more downside movement, maybe after a little consolidation. Hopefully you entered on either one so hold for now. GLIYF

 

[bax699]

Its been a while since I updated EURGBP . We were in a sell riding the trend down. I peaked at over 130 pips profit on my second entry area. But I exited the trade at 80 pips when the bullish engulfing candles formed. I'm pretty sure you all did the same when you saw the bull strength come into the pair. But what next... Well we have broken above the trend line and also more importantly above the moving average where we see price currently. But for me to buy i would like price to break above this little daily supply zone and then buy the re-test to go long. Patience on this pair to see where its heading next. GLIYF

 

[bax699]

New week has begun, and its been almost 3 weeks since I have looked at EURGBP . Mainly because it has done nothing of interest. Last time on this pair we sold from this supply zone under the trend line and exited for 80 pips after the bullish candles formed. But still price has come back up to this daily supply zone and hasn't broke since. We have literally just moved sideways. No real direction, the EMA is flat lined. But still My favoured trade would be to sell from this supply zone back down. But if we see a break above then we will take the buy. Let the market show you what it wants to do and join along for the ride. GLIYF

 

[bax699]

Good evening all. Just a little update on the EURGBP trade that I took. Last time out I had cornered the market. i was mostly looking for the sell as the supply zone price was sitting at was holding for many days. We got the breakout as desired and I entered after the daily candle breakout closed. Nice little pullback on the 4H timeframe under the EMA so was fairly easy to take. I hope most of you also managed to take it too. You could of even sold from the top at the supply zone and been in even more profit. Currently sitting just under 50 pips up on this trade. Looking for 170 down to the demand zone below for a 1:3 R:R. If you followed move SL to break even and let it ride. GLIYF