Position Trade - EURGBP
EURGBP is not a profitable pair to trade due to the distance between the Supply and Demand Zones in the Monthly Chart.
However, SHORT opportunities are available for multiple positions for traders to profit from.
In the Monthly Chart,
- SHORTS are playing out already
and the price is in equilibrium.
Hence any trades in the WK and D1 needs confirmation.
In the Weekly Chart,
- We can set a pending SELL limit trade for price to retrace back to the Weekly Supply
A pending SELL limit order is placed on 28 May 2023
In the Daily Chart,
- Price needs to break an opposing zone before we can look for possible sells, as there were too many wicky Daily candles to the left of the chart
Alert/s were set in the Daily Chart if price breaks the zone as of 28 May 2023
EURGBP is not a profitable pair to trade due to the distance between the Supply and Demand Zones in the Monthly Chart.
However, SHORT opportunities are available for multiple positions for traders to profit from.
In the Monthly Chart,
- SHORTS are playing out already
Hence any trades in the WK and D1 needs confirmation.
In the Weekly Chart,
- We can set a pending SELL limit trade for price to retrace back to the Weekly Supply
A pending SELL limit order is placed on 28 May 2023
In the Daily Chart,
- Price needs to break an opposing zone before we can look for possible sells, as there were too many wicky Daily candles to the left of the chart
Alert/s were set in the Daily Chart if price breaks the zone as of 28 May 2023
Comment:
Correction: The GREEN Zone is Daily Demand, not Supply
Comment:
Another pending SELL order is placed for a short-term opportunity as price hits a Daily Demand area.
Comment:
Price broke D1 Demand. Consider a very short-term sell trade on H4.
Comment:
Trade active
Order cancelled