EURGBP set up ideas

EURGBP has taken the daily highs last week and made a clear change in the overall structure

With the current news line up tomorrow London session could see this set up form. on the daily we have a clear gap in the wick that needs filling before the next big leg up. also on the 4 hour we have a FVG and area of reaction.

The news line up for tomorrow is EUR first and then GBP so looking for this to react at this level and then break back up for lower TF market structure before the GBP news.

Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading.
Let me know how you get on.

Very nice set up I think it will come off

Great set up Pezza, thanks for sharing mate.
Ive been hesitant with EUR paired positions just with all this Ukraine malarkey.

I still think this looks like it's heading down to me so would be looking to catch the short after this long set up. But good luck with this one.

I’ve had a couple of nice buys on this pair recently. Thinking theres more buys to come as well.

sebking1986 posted:
I still think this looks like it's heading down to me so would be looking to catch the short after this long set up. But good luck with this one.

Do you think the Russia situation will push the Euro down more?

EURGBP London set up idea

With EURGBP dropping down over the last few days we could be seeing a retrace from the bullish move last week back below the 50% area ready to move up again.

We have seen the strength in GBP with the interest rate rise pushing this pair back down.

I will be looking out for a mid week move and a break in lower TF structure to show some bullish momentum before I look to enter.

Bear in mind there is another level at the 79% on the fib that we could push on down to and then break to the upside from there longer term. with both ideas I am still looking for buys to come in to play by the end of the week.

Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading.
Let me know how you get on.

As you mention I like the 79 fib level. I can see a few confluences there that lead me to think that would be a high probability long.

In a wide range but like the look of this with some short term liquidity to target to the upside :)

I’ve never liked counter trend trading but this set up looks good

The pair is having consolidation in the daily chart. A bearish breakout at the consolidation support may attract the sellers to go short in the pair. The last swing low may hold the price and make the pair get bullish again.

Well this might be a HL forming. But until we get a a HH it won't mean much. As you say could just be entering into consolidation.

Really like that 78 Fib level meself theres a couple of confluences there also

Jungle78 posted:
Really like that 78 Fib level meself theres a couple of confluences there also

The fib is such an underrated tool. These levels are gold :)

Judging by the last chart the TP is hit. Congrats.

Targeting 0.83688 now for another upswing.

sebking1986 posted:
Targeting 0.83688 now for another upswing.

Agree, it is really pushing for that area. Im going to be setting some alerts close to this

The daily chart suggests that the price found its support. It produced a Spinning Top and some bullish candles afterwards. We may see bull's dominance. The level of 0.83800 may work as a level of resistance here though. A breakout above may generate more bullish momentum.

sharabela posted:
The daily chart suggests that the price found its support. It produced a Spinning Top and some bullish candles afterwards. We may see bull's dominance. The level of 0.83800 may work as a level of resistance here though. A breakout above may generate more bullish momentum.

Would you say 'spinning tops' and other candle formations are a big part of your strategy? ive never used any of that personally