EURGBP Can She Still Push Down?Hi Purpose Traders: Flow with me a bit while I give you the tea on EURGBP.
First, price is in a downtrend. Can you see the lower low and lower highs she is making on the weekly and daily? If yes awesome! If not, take a look at my price note tools. The exchange rates are decreasing at the highest peak lowest peak of each fluctuation.
What does this mean for you? I'm so glad you asked! A downtrend means you are the seller. I love teaching traders to trade what they speak and see. The word 'down" in downtrend means price is decreasing. The word decreasing means price is selling. The word selling means you are the seller. See how that came together?
For you, you want to sell beneath the last lower high at exchange rate 0.84780. I'm using my estimation zone(my name for my zone based on the low demand of buyers under the lower high). If today's candle closes bearish I am the seller back down to the low at 0.82030.
What can stop me from selling? If price passes 0.84780 and it is that simple. Why? I'm glad you asked. If price passes the last lower high that will mean price has reversed and it's time to be the buyer, but I'll only cross that road if price says to do so.
So, what do you think? Do you agree? Let's chat about it.
Eurgbpshort
EURGBP 11TH MARCH SHORT IDEACurrently EUR has lost it's strength due to the war is Ukraine and we are clearly seeing a bearish structure and on that note we are looking for valid points of supply to trade off of and meanwhile we saw price respect that particular area of supply with the red zone marked out we look for entries on that zone to ride the market further down.
EURGBP SHORT UPDATED 11TH MARCH 2022I notice a very valid supply just below the previous one I sent out to the community and the price is reacting to it nicely its still okay to enter though its no longer gonna be sniper but good risk management will help as we look to see the price fall and clear the previous low.
EUR/GBP NEED TO PULLBACK THEN SELL
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EURGBP are we setting up for a reversal?Hi Traders,
EURGBP is setting up for a bullish reversal as price is moving within a LTF descending channel at the bottom of the HTF boundary. Wait for a Reversal Impulse and continuation before placing a buy order.
Follow your trading plan and entry criteria.
Share your analysis below and let me know your view on this pair.
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EURGBP - 1M/1DAnother GBP pair that is looking really interesting where price seems like has broken a super strong monthly support, so if daily manage to stay and close below 0.8300 that works as point zero of this monthly support and bottom of the daily broken structure we might see a possible big drop of atleast 200 pips!