EURGBP - Bearish TrapsThere is no denying that this pair is creating stepping down structure, however, It is likely that selling traps will be in place.
I assume many would be selling from the break and re-test of the most recent structure, I will be waiting to get involved in sells from the order block just above it.
Eurgbpshort
EURGBP SHORT PRICE ACTION FORECAST The euro has been playing on the bearish foot the whole week. While under seller pressure, the pair EURGBP shows some pullback conditions towards the broken level close to the descendent trendline to continues its bearish movement. Potential risk-reward ratio 1:5
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DO NOT MISS THIS OPPERTUNITY - EURGBPFrom first glace at this chart you can see we are in a descending market.
Using the basic Support & Resistance Levels, you can see we are testing a strong level of resistance. In addition to this you can see price wasn't able to break the downtrend and therefore, I do not see any indication of a reversal.
The Stochastic Indicator is also sitting at 55, showing the market has been Bullish and we should see a sell off.
Lastly, I have not yet seen a cross over of the 50 & 100 day moving average. If you have been a member of our team for a while, you will understand how important this cross over is!
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💥EURGBP - Sell now valid 💥A simple lesson on probability.
Go and grab a coin and toss it a few times.
Although you have a 50% win rate for heads, you will still get a consecutive run of tails right?
In fact, with a 50% win rate, its probable you could see 4-5 consecutive tails.
Unlikely, but still POSSIBLE - there could be a chance of seeing 7.
That's why we now plan for this.
HOW?
We have a probability calculator that enables us to plan for these losing runs.
How cool is that?
Once you have planned for losing runs, you don't get worried.
Simple.
Anyway, another sell valid on EG as shown.
Entry price was 0.88019
SL 0.88181
TP 0.87808
Winning and losing runs come and go.
That's also why hopping on random trade ideas on here, isn't recommended at all if you are trying to find consistency.
Your just gambling otherwise on random ideas. You might get luck - but you're just getting random rewards.
Take care.
D
EUR/GBP Is Breaking through SupportThis is breaking through a big weekly support level. Best time to enter a short is on a retest of the support now acting as resistance. This will give the safest trade setup, for a SL the highest previous point is too high for a good risk/reward ratio so it can be just above 0.618 Fib. TP is at the next support level downwards.
As I said best entry is to wait for a retest and rejection from the new resistance (previous support).
EURGBP - SWING - 25. JANU. 2021Welcome to our weekly trade setup ( EURGBP )!
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1 HOUR
Bearish closure below main sr level.
4 HOUR
Overall bearish market structure with a small pullback.
DAILY
Great short entries following mid term trend.
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FOREX SWING
SELL EURGBP
ENTRY LEVEL @ 0.88870
SL @ 0.89200
TP @ 0.88410
Max Risk: 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
EURGBP TECHNICAL ANALYSIS: SHORT POSITION +70 PIPSEURGBP on my last analysis on the weekly chart, managed to break above the strong structure, so I'm personally looking for sell opportunities to enter in the market. The pair ranged between 0.89200 - 0.88680 and now was able to breakdown and is currently retesting the new resistance, if the resistance gets clearly rejected and we can see a possible down continuation i will open a sell position, until the formation of a new lower low.