Good morning all, Just before the Xmas holidays we sat in a buy position on EURGBP we peaked out at 200 pips but failed to reach the tp2 zone. Never the less we got stopped out in profit as we saw price fall back down. Now we find ourselves as the strong demand zone once more. For which I am looking to see support form for us to buy from again. We do still seem to be falling gradually over time so we will either catch the strong reversal, or we will see price tank through the demand, only then will I start looking for sells. Should be an easy trade to take this one. GLIYF
Farm Yard Forex
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I still think this looks bearish as it stands so favour the short. Will wait to see if we get a confirmation or break of structure.
Good morning all, ending the trading week reporting on a SL hit on EURGBP, as per my last video update I took a buy . In hindsight it was a risky trade, as our other trade on GJ has hit the TP zone. But that's why risk management is key. It seems GBP is on a very strong run at the moment. For that reason I am now going to wait to see what happens here at this critical stage, we're at a monthly demand zone so if we manage to break below then there may be more bearish action to come. If it reverses then we will look to get in on a re test. Will update again next week once we have some more movement. Haver a good weekend GLIYF
Farm Yard Forex
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Hey it's just 1% at the end of the day. YOur GJ trade has already paid it back and more. Still looking very bearish for now. Expect a LH before another LL unless shown otherwise.
Good morning all, last time out on EURGBP price took out my SL. But I have entered a buy again, as I believe in this demand zone and that we will get a reaction from here. Looks to me like a bottom has been formed so I bought at the bottom of this channel. not expecting a full massive reversal, but at least a nice pullback to the supply zone above. Still good R:R of 1:15 with the tight stop loss, that's why its appealing and why I have taken it from here. If we don't trade what we believe to potentially happen then what's the point in trading. Easy setup to take GLIYF
Farm Yard Forex
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Certainly looks like it's respecting this downward channel and no reason to think it won't as it stands so I like the path you have marked out here.
Buying it from the support zone looks very lucrative. However, the second setup of buying the pair upon pullback looks better as far as winning percentage is concerned. Thanks for sharing the chart.
Good morning all, today's update is on the EURGBP buy trade currently open. As I mentioned in my last video overview I extended the SL on this pair, which has worked out well for us. Finally we have got our reaction that we wanted, price has managed to break that level that flipped. We got a rejection off the EMA but happy to see price close above. This is where we would like to see price collect some supporting orders for the next push upwards to get price making higher highs and higher low's, above the EMA . the GBP has taken a tumble recently so would be nice to see it continue for this trade. Due to the overall very bearish nature that EUR has been in I have moved SL to BE. Suggest you do the same if following, currently 50+ pips in profit, keep holding for now will update again end of the week. GLIYF
Farm Yard Forex
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Looking like the decision to make yourself risk free was a good idea. Euro is so bearish.
Jungletrader
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Lovely RR on this nice tight SL as you say gotta trade what experience is telling you also
S
Smith2525
Just checked the chart, looks like it turned around..... Back to entry / SL.....
Farm Yard Forex
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Euro is the proverbial wet paper bag at the moment
The pair looks very good to go long in the daily chart. It produced two bullish candles consecutive by having its 2nd bounce at the same level. It has breached the neckline as well. Thus, it is going to be considered as the Double Bottom by the buyers. I am going to keep an eye on the pair to go long next week.
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Good morning all, sorry I haven't update the charts on EURGBP for a while as I have mainly been covering it on my video overview's. The previous position taken we achieved TP1 zone, then we got stopped out on our remaining position on the drop back. Fast forward to today and we find price sitting in our original entry zone again. As I have been saying if price holds above 0.83 I will look to buy this reversal. DXY has been bullish but that also sits in a supply zone so could possibly drop back. BUT the possibility of Russia news could pump safe havens including USD so its 50/50 at this stage. I will be watching today and tomorrow for some buying signs on this pair, if price holds this level then I will enter a buy. So keep watching closely for your possible entry. Will update again once we have some more decisive price action. GLIYF
