EURGBP We have been trading this down from 81 and have dropped the short and reversed out. If you are on a 15-minute chart, you might want to let this confirm by breaking the downtrendline. We are seeking the long to 8095. This should provide for a tight stop. Starting the scalps. We are at the .382 of the daily. Thanks!
Trade active
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Pulled half at the blue line.. break even now for 10 positive on the rest.
Trade active
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I came off this at the to blue line for a really easy fifty on all my buy lots. Then I did not resell from the top of the consolidation range.... however I caught the short pullback at .7920 and am running that lower to 78., stop is break even.
Comments
hope.bleecker
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As per comment, me too Sam. EG is so very easy to trade for several reasons, it does not have a daily range and it's relatively predictable at daily resistance. It tends to generate false crowns and a lot of them. However, when it runs, it runs and produces a multitude of low stress easy profitable trades which pay well. I have three off and am running two.
sam.aziz
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You did well with that one, I just shorted with just a few pips to risk. It is still in an uptrend but it is getting weaker now. I think close below 0.8000 today will lead to a resumption in the fall. I like your trade ideas a lot, I just happened to differ with you on this one :). Good luck to all of us
hope.bleecker
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It will tell us... I think it will give you another entry opportunity lower from that exact line where we bought it... pounds are oversold right now. Let it tell you EG tends to show you really clear structure.. It builds false crowns so you have to not get trapped by that but otherwise it's very easy to trade.
sam.aziz
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I would love to see the 0.7960ish resistance to short again :)