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Eurgbpsell

Engulfing at Structure on EURGBPHi guys, after a week of relax, i'm back to the charts today (it's good to take some rest from time to time). As usual i look for important level of structure and then i lower my timeframe in search for a reversal pattern. In this case on EURGBP we're up to a previous daily structure, and right there price has created a nice engulfing kicker that makes me think we're heading down. I don't care if it was generated after a news release, or announcement, i care only about the chart and it's telling me bears came in and are pushing downward. Being the case, i've set my limit order and i'm waiting to see if it gets triggered, with stops above highs and targets as displayed. If you have any question/doubt, feel free to comment below. Otherwise, see you in the next chart!
Short
by Roker1
5
EURGBP Perfect Sell Entry Thank You CarneyEURGBP on the daily shows a great sell entry. its testing a previous resistance and the resistance above it isnt that high. The best strategy to sell this pair is to begin slow. Start with a small position so that you have enough left to add some more every 40 pips spike. And if it goes down add more every 60 pips. The longer (around 2-3 weeks) target is 0.86. So be building your positions this way you will have a very very nice profit in the end. Also every time EURGBP got above 0.90 it went back down quickly. The BOE wont ever allow EURGBP get to parity because that would look to bad for them. they want GBP to stay the stronger currency.
Short
by JoshFX1
EURGBP Long Term BearishTake note that this is based on the weekly and monthly time frame, so that smaller time frames can still move up Time for a long term view on EURGBP on the weekly and monthly time frame. Whats very interesting about these time frames is that both shows a bearish wedge and are close to a resistance. Besides that the monthly also shows a possible double top. This double top will be confirmed if august closes red... So basically for a full sell signal you would have to wait till the monthly candle of august closes. Personally I lack the patience for it, if the same counts for you then just start with building up a small short positions. This way you will have plenty of margin to add more if it goes a bit up first and ofcourse to add more when it goes down. A safe stop would be at 0,9080 or 0,9120. Now this will look like a big stop loss of 100+ pips but remember that the higher you go in time frames the bigger the trading range. So automatically this also gives you a big stop loss. On the other side it also gives you a big take profit target :) The daily time frame show 0.8990 as stop. Take profit targets are 0,8780 and 0.8480 after that. So plenty of cash to be made if you have the patience to hold on the next months
Short
by JoshFX1
2
EURGBP Sell And Then Buy The Dip!On the 4 hour time frame for EURGBP we can see a very nice Elliot Wave structure. Currently we are in the 4th wave of a bullish Elliot structure. Its most likely that this wave down will approach the lower range before bouncing back up into its final 5th wave. On Stoch we also have a nice bearish crossover and the ADX shows a bearish claw. Supporting a down move towards the lower range which will get hit around 0.8880. Trading advice: Short with target of 0,8880. At this price take profit and enter your 1st buy position to catch the 5th wave with a target of 0.92 > 0.96
by JoshFX1