EURGBP set up ideas

Thats a nice uptrend you have spotted. Ill be looking on lower time frames for entries next week

EURGBP Update

Still no big push but slow steady drive up.
As you can see I have added tomorrows news events to the chart to remind us of whats to come.

I see the sell coming in to play and would like to push up to the top of the yellow box tomorrow and then news drive price above the highs and then look to sell off.

But this is only the idea and we know news pushes price so we dont trade news just the after effects.

We will see what this event brings and look for opportunity's to use it in our favour.

When looking at charts there are many things to take in to account but I like to look where is the liquidity. Here it is above the equal highs and below the break of the trendline.
So I will be waiting on my hands to see which if these gets taken first and then look for the move to the opposite side.

Let me know what you think and good trading.

Today's price action has been very bearish. The daily candle may close as a bearish candle. The daily chart shows that it may end up making a very significant bearish breakout. It means the Bear may dominate in the pair for some days.

Will be looking to the UK this week to see what's happening. Might enter come the end of the week

The pair looks very bearish in the daily chart. The price made a daily breakout at consolidation support. Thus, the sellers may drive the price towards the South. The level of 0.83600 may work as a next level of support.

EURGBP Update idea recap
The trend line mapped out last month has been significantly broken on 4 hour and daily.

Using the fib we place and marked out areas of interest you can see we have retraced significantly. Looking for a set up I have adjusted my entry area as I feel we could still see a final push to take out relative equal lows.
We have see the EUR drop to a huge low for many years and hit 1.000 against USD.
Breaking the trend line and taking out buyers liquidity for the short term i will be looking to target the highs but take partials along the way if we get a good entry set up.
Keep a close eye on market structure and remember key entry and price action will be needed.

I like the look of this to sweep the lows and fill that imbalance

Have you closed off some profit as I think it could drop from here.

The pair has been heading towards the South by obeying a trend line. The pair produced a bearish reversal candle right at the trend line's resistance. Thus, the sellers may drive the price towards the South further.

EURGBP trade idea
EUR has fallen hard to day over GBP and is in discount for buying opportunities.
From here I well be looking for the 70% and 79% fib levels. Looking for a liquidity run on the lows in to an area of interest. I have 2 marked out but I would prefer the grey box as my entry zone. Currently we are are market close so not the best time to be trading. Will be watching in London open for the opportunity for the set up.

Let me know what you think of this and I will get back to you with an update later on.

I can see why you have placed your entry there with the FVG starting but I too would want the deeper retracement to the 79 level.

Pezza posted:
EURGBP trade idea
EUR has fallen hard to day over GBP and is in discount for buying opportunities.
From here I well be looking for the 70% and 79% fib levels. Looking for a liquidity run on the lows in to an area of interest. I have 2 marked out but I would prefer the grey box as my entry zone. Currently we are are market close so not the best time to be trading. Will be watching in London open for the opportunity for the set up.

Let me know what you think of this and I will get back to you with an update later on.

Interesting fib levels you’re using.

momo3HC posted:

Pezza posted:
EURGBP trade idea
EUR has fallen hard to day over GBP and is in discount for buying opportunities.
From here I well be looking for the 70% and 79% fib levels. Looking for a liquidity run on the lows in to an area of interest. I have 2 marked out but I would prefer the grey box as my entry zone. Currently we are are market close so not the best time to be trading. Will be watching in London open for the opportunity for the set up.

Let me know what you think of this and I will get back to you with an update later on.

Interesting fib levels you’re using.

Do you use fibs in your own trading too?

The pair is traded below 0.84250. As long as it stays below the level, the sellers may look to go short in the pair as far as the H4 chart is concerned. I assume the pair may remain bearish at the beginning of the next week.

EURGBP Buy idea

My current look for EURGBP this pair has pulled back massive over the last few weeks after everyone seen it turning bullish.
With the break of the trend line and the retracement back to the 79% and in to an area of interest this pair is on my watch list.
This is a daily chart and marked out are 2 key areas I will be watching on the lower TF in London open.
Looking for BOS in 5/15 min TF to show willing to break up for the daily session with my first target back to the 50% level and partials taken there.
Keep a close eye on market structure and remember key entry and price action will be needed.
Let me know what you think of this set up.

Nice deep retracement which has created a low resistance liquidity run if the overall profile remains bullish. Looking for a reaction here makes sense and allows for discount buys in this range. If price breaks the low then bias changes on this pair.

Just to volatile for me atm. Ill be using this pair to see which is stronger to trade EURUSD and GBPUSD

EURGBP trade update and outlook

EURGBP traded up nicely of the area I marked out last week and is running for 6% at the moment and not far from my TP. This pair has now retraced and nearly back up to the sell side of this pair. I have moved SL up to lock in 4%. Marked up above the TP is 2 areas where I will be watching price the lower of the zones are back in to a daily OB and consolidation range so could be more reactive.
 Looking for a short term sell option back down to the 0.8400 level but we will have to wait to see what price will do this week.

Let me know if you caught the trade and your set ups in the next week.

The H4 chart shows that the pair has been heading towards the South. The level of 0.84175 has held the price as a level of support. A bearish breakout at the level may drive the price towards the South further.