Evening all, markets open soon so just checking in on our EURGBP trade. Currently 125 pips in profit and price has moved over to where i expected just under the trend line . i think this weeks opening is going to be vital to our sell trade. Its either going to drop from around this area or slowly break through the trend line and then visit the supply zone above. If you see it starting to break through then i would get out of the trade with profits and look for the next opportunity. Have a good week all GLIYF
EURGBP Thread
- Thread starter Lee-Bax
- Start date
Its been a week since we last had an update on our EURGBP sell position. The whole of last week price just consolidated in that small range right over to the trend line . This is where the bigger players are accumulating positions to take it in their direction next. If you're still holding the sell position with me then be ready to close if we break above the trend. If we get rejection this week then TP will surely be hit. Have a good week all. GLIYF
Good morning all, new week has begun with a nice push on EUR pairs. So I exited our sell on EURGBP with 120 pips. Cant complain really a nice haul for the account. Onto the next setup and I am still inclined for the sell off. I think we will see a little push up here to the supply zone above, before we see another drop. So same entry level but wait for price to visit the supply zone OR the moving average (53) coming down acting as dynamic resistance. I think it may reject of one or the other. Set your levels and wait for price rejection before selling. GLIYF
Good afternoon all, EURGBP has continued in the downtrend. Last time I exited my trade on this pair with 120 pips profit. I since re-entered on the 50% candle supply zone created. Again im just over 100 pips in profit on this setup. If you held from the first entry then you should be around 180+ pips in profit currently. We have dropped through demand so I expect more downside movement, maybe after a little consolidation. Hopefully you entered on either one so hold for now. GLIYF
Its been a while since I updated EURGBP . We were in a sell riding the trend down. I peaked at over 130 pips profit on my second entry area. But I exited the trade at 80 pips when the bullish engulfing candles formed. I'm pretty sure you all did the same when you saw the bull strength come into the pair. But what next... Well we have broken above the trend line and also more importantly above the moving average where we see price currently. But for me to buy i would like price to break above this little daily supply zone and then buy the re-test to go long. Patience on this pair to see where its heading next. GLIYF
New week has begun, and its been almost 3 weeks since I have looked at EURGBP . Mainly because it has done nothing of interest. Last time on this pair we sold from this supply zone under the trend line and exited for 80 pips after the bullish candles formed. But still price has come back up to this daily supply zone and hasn't broke since. We have literally just moved sideways. No real direction, the EMA is flat lined. But still My favoured trade would be to sell from this supply zone back down. But if we see a break above then we will take the buy. Let the market show you what it wants to do and join along for the ride. GLIYF
Good afternoon all, checking back in on the Gold buy position today. Last time out we we're inside the flag looking for the breakout. Well price did just that and we got the expected upside breakout to continue on our buy position. I think we should see our TP projected zone hit soon enough. Current daily candle is wicking out form the bottom and the moving average is starting to turn upwards also. Keep holding for now and remember just to keep moving stop loss up as its possible we may go past our projected TP zone into the supply zones above. GLIYF
Good evening all. Just a little update on the EURGBP trade that I took. Last time out I had cornered the market. i was mostly looking for the sell as the supply zone price was sitting at was holding for many days. We got the breakout as desired and I entered after the daily candle breakout closed. Nice little pullback on the 4H timeframe under the EMA so was fairly easy to take. I hope most of you also managed to take it too. You could of even sold from the top at the supply zone and been in even more profit. Currently sitting just under 50 pips up on this trade. Looking for 170 down to the demand zone below for a 1:3 R:R. If you followed move SL to break even and let it ride. GLIYF
Hi Lee-Bax,
This is a nice journal. I trade with a different approach, using indicator-based systematic trading systems, but have enjoyed reading about your method.
Apologies for my ignorance, but I can't quite figure out the meaning of your closing acronym GLIYF. Browser searches were unsuccessful and the possibilities I came up with, like Good Luck Investing Your Funds or Goldi-Locks is a Young Fool, just don't seem right. What does it mean?
This is a nice journal. I trade with a different approach, using indicator-based systematic trading systems, but have enjoyed reading about your method.
Apologies for my ignorance, but I can't quite figure out the meaning of your closing acronym GLIYF. Browser searches were unsuccessful and the possibilities I came up with, like Good Luck Investing Your Funds or Goldi-Locks is a Young Fool, just don't seem right. What does it mean?
