EURGBP set up and ideas.

P

Pezza

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.
 

Attachments

  • EURGBP long set up.png
    EURGBP long set up.png
    170.7 KB · Views: 26
Many upper candle wicks in this 0.84000/0.84500 zone so IMO either it goes down soon enough from the effect of all this selling pressure (lower timeframes H1 / H4 show same) or a lot of shorts will be burned if it does break thru 0.84500
! EG.png
 
Pezza said:
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.
More...
I love the set up RR is on point
 
LHill97 said:
Such bonkers times to be trading EUR pairs.
Looks prime for a short right now too!
More...

I'm favoring shorts on EUR pairs too at the moment mainly due to the Russia situation. The set up looks pretty good though for a short term long
 
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.
upload_2022-3-22_19-30-29.png
 
Bullish move last week?

More like sideways move.

Meanwhile the past 3 days are big red candles. My guess more of the same. And other than EURJPY all the other major EUR pairs look down as well.
 
SunTrader said:
Bullish move last week?

More like sideways move.

Meanwhile the past 3 days are big red candles. My guess more of the same. And other than EURJPY all the other major EUR pairs look down as well.
More...

There has been so much consolidation Ill personally be staying out of this pair until something shows me a reason otherwise
 
Pezza said:
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.View attachment 280772
More...
Really nice set up but counter trend
 
You must log in or register to reply here.
Back
Top