I'm looking for a short soon for EURGBP. Based on my bigger picture analysis I favor a new low on daily time frame (at least 0.693). There is some more room to the upside so don't chase this trade but I expect it to break lower sooner or later for a fantastic trade opportunity. Below my long term analysis I posted a few weeks ago. updates will follow.
We saw the bearish continuation on lower time frames as anticipated and I moved my stop loss to break even. I'm interested in the whole move lower for a new daily low comparable to what we traded with EURJPY. So if this is only a correction before we see an extension higher I re-enter later on because my bigger picture view remains the same. I wasn't able to add to my first position since my entry wasn't ideal. Otherwise I would have traded both intraday and swing. But I've to be disciplined an follow my rules. Updates will follow because I like to open more trades when I see the opportunity. Hope you guy's were able to trade this pair as well.
הערה
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הערה
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Hope you guy's are profiting from all the trend continuations. Fantastic month so far with risk/rewards of 10/1 across the market as posted. Don't try to catch it all. Focus and get familiar with the trading and the pairs. But structure again shows us what is the only leading indicator out there. I still have my original shorts and am adding more shorts. I personally like to use 50% of my new trades for day trading and keep the rest open because the ultimate goal of this short is a break below 0.69. Therefore I accept the risk of getting stopped out now and then at break even.
updates will follow.
תגובות
Jaca86
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Nice, thank you for update, good luck
TimStuyts
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keep an eye on the 2 fibs (those show previous highs) and the rising trend line. It would be nice to see some kind of consolidation so we can sell the bearish continuation and next break. However you can also use these levels to manage your position in case this pair decides to extend higher once again.
ChimbOt
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Looks to be confirmed
BusinessInMotion
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If will be not brexit on sight, I will be 100% sure that you have the right drawing! In case of Brexit, I think that we'll see 1:1!
TimStuyts
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yes I agree.
TimStuyts
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That's why we need confirmations before we enter, but structure will tell us what's next.
BusinessInMotion
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Agreed! You have very good charts!
TimStuyts
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Thank you, appreciate the feedback. Let's see what's next. Good trading to you!