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Eurugbp

EURGBP H4 | Bullish BounceBased on the H4 chart analysis, we can see that the price has just bounced off our buy entry at 0.8462, an overlap support close to 50% Fibo retracement. Our take profit will be at 0.8495, an overlap resistance level. The stop loss will be placed at 0.8421, a pullback support level. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
Long
by FXCM
EUR/GBP: How To Combine Trading Setups – Day Trading Analysis 📋Hello guys, today I would like to show you a nice looking day trading opportunity on EUR/GBP. From last Friday to this Monday, there was a price rotation followed by a strong sell-off which took place later on Monday. This caught my eye because it is what I look for first when I search for places to trade my Volume Accumulation setup. A rotation followed by a sell-off indicates that BIG trading institutions were building up their Short trading positions in this rotation. Then they pushed the price into a sell-off. Volume Profile Analysis The first thing I do when I see such a development is that I use my Flexible Volume Profile in that rotation area to see how volumes were distributed there. I want to see a heavy volume bump with clear POC . Like here 🙂 If you look at the picture below, you can see that there were heavy volumes accumulated (traded) around 0.8610. This is where I think most of the sellers placed their Shorts. From this place, the sell-off started. When the price makes it back into this area those strong sellers will want to defend it. It is important for them because they placed a lot of their trading positions there. This is the reason why the zone around 0.8610 should work as a Resistance. When the price makes it to this zone at some point in the future again, I expect a selling reaction. The price should bounce downwards from there. Weekly Volume Profile Even though this is an intraday trading opportunity, I always look at the bigger picture – the Weekly Volume Profile. What I want from my day trading levels is that they are also visible on the Weekly Volume Profile. No need to be Weekly POC, but there should be at least a significant bump. In this case, out Resistance is very nicely visible there. In the picture below, I merged two Weekly Volume Profiles (because the rotation was created on Friday and Monday – that’s two weeks…). Our Resistance stands out really nicely as it represents the 2nd heaviest volume area in those two weeks. That’s the kind of thing I like to see! Open Drive One little addition to notice with this 0.8610 resistance is the Open Drive. Open Drive means that a day opens and the price goes one way only – right from the start. In this case, it went only down. The highest place the price was on Monday was when the market opened. Then, from this place it went downwards. I hope you guys liked today’s analysis. Let me know what you think in the comments below. Happy trading! -Dale
by Trader_Dale
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