When wicks (HiLo's) are exaggerated they should be ignored (who cares about those whose stops were taken), And after a moveof almost 2% in 6 trading days profit protection stops should be brought close, for instance 1 hour low, or at least 4 hour low:-
Good morning all. Little update today on the EURGBP buy trade we took. To our delight on our buy trade, we have seen price push through the bearish structure. EUR has seen a little strength, We have created a new high and currently sit at 198 pips in profit. I would like to see a higher low for and test the break and then continue on to TP2 zone. If the break is real that is what we should expect. Keep holding for now and move your SL into profit area for security. GLIYF
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
Support I see, although TSI daily is hooking down, with TSI weekly already there and pinching further down:-
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
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