EURGBP this looks like the foundations of nice flag formation to break lower, but in the near term i'm expecting price to bounce at it's current level back in to the channel with long targets 0.72244 / 0.72995 / 0.73876
Comments
Daniel.B
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Very nice trade =)
ElPatron.Y
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This was quite predictable, EURGBP is bottomed imo. No need to close longs just take profit half and sl to breakeven.
vdubus
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I lost my nerve lol, I was way OTT invested in this trade, thought better to quite whilst I was ahead
ElPatron.Y
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Hahaha it is good to have your painlevels tested, keeps you feeling you are alive :D
PriceActionTrading
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Well played. Can keep holding for some extra pips. Im thinking 0.74 is possible next week.
I wanted to get in at that price too but i removed EURGBP from my watchlist last week and forgotten to place it back.
PriceActionTrading
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Oh yes, no real resistance in sight for my analysis. So it is a safe enough trade if you place the remaining half at BE.
vdubus
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May look for entry levels on lower TF jump back in. Be a waisted opportunity, knowing where it's going is half the battle won :) Expecting some resistance at it's current level so wait see if it pushes through
PriceActionTrading
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Yes me too. Looking to enter this. I did my analysis and its pointing buy eur sell gbp. so long eurgbp is perfect.
eur pairs have no real resistance or overcame their resistance.
gbp pairs have met their resistance and shown some weakness.
Just my opinion.
vdubus
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no your right I think. Both pairs against the USD look to have un correlated. Just waiting for price to break 0.734 area to go long
vdubus
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But then friday where I saw the correlation divide slightly. some news today saying Grease are unable to pay. Im not a fundamental trade if anything I do the opposite but worth being a little cautious . I don't trade have my posted analysis lol the buzz is getting it right :) Then kick myself after :/