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
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
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
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
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
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
Good morning all, new week begins. Happy to report that EURGBP has hit our TP zone. Last time i reported on this pair i was looking for the lower high to be made and to put your SL in profit. If you did you would of got stopped out in profit. But it came right back to our entry zone and had a huge rejection. So if you held or re entered you would of been fine. TP zone was hit of 230 pips. Not a bad trade to start the new year off. Will look for the next trade and report back this week sometime. Happy new year all GLIYF
On the last post of this pair we had our TP hit. But looking for the next trade i think i would be inclined to wait for the break of this big wedge . i think we will have more action if it breaks below and the GBP regains more of its overall strength against other countries. I personally think we will see sideways action for a good few days now. But as always let price show us the direction and follow along with it. Either buy or sell the break or wait for the re-test. Should be a failry easy trade for us to take, prefer the sell personally lets hope price agrees. GLIYF
Afternoon. Was waiting for EURGBP to give us some direction for the future trades. Currently we've dropped through this trend i have drawn out. There's two trades here that could be taken for me. One is on this re-test of the break. Wait for resistance and the reversal signs on lower time frames to enter as it could easily rise from this support area . The ideal trade would be to drop through support zone and sell on the retest of that. Remember dont just enter blindly wait for that signal of direction. GLIYF
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. GLIYF