Nice idea on EURGBP and there may be bullish bias as you have identified. For our set up, we have identified the key resistance and support levels. The first support that we have identified is at 0.8924 (61.8% & 38.2% Fibonacci retracement , horizontal pullback support). Stochastic is approaching its support at 5.4% where a potential bounce may occur. If a potential bounce does occur, we may take a look at the 0.9002 resistance level (61.8% Fibonacci retracement , horizontal swing high resistance)
Please have a look at our idea and share with us what you think.
British4Ukraine
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I think your analysis was right but some US money shifted into GBP for the Christmas break weakening Euro. I think when markets reopen we're going for that .9042 and maybe .9070 or .9101 before a drop back to .8600 for Spring.
kjzsbtby
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As always your stops are in the middle of my entry... Only 1 of 3 were took on that fall
Glendoonie
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@kjzsbtby, hi, what exactly do you mean when you say, “As always your stops are in the middle of my entry...
kjzsbtby
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@Glendooie, I got a strategy that 70% of the times tend to behave pretty equal to DECapital free trading signals but usualy my entries are nerby or just in middle of their stoploss. Most of the times are correct, from time to time I like to hunt the stop cuz' it have given me nice returns. Sadly by doing this sometimes I miss an entry entirely. I guess getting a better signal equals to have less oportunities in this case. Anyways I'm still testing this strategy, maybe in 6 months I might develop it further.
kjzsbtby
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And adding, I started this test run with an XM account with little money, I can say that with some risky trades at the beggining (the 5 first trades were a little bit risky in order to build capital quickly and is something I DO NOT RECOMEND to anybody, but I got 7 years of experience so I give myselve some space for risky trades in order to develop my strategy) now I can live happy on Mexico with the money I get on a monthly basis~ (Still I preserve my job due to the nature of the buissiness of trading.)
Please have a look at our idea and share with us what you think.