anilmangal
Short

EURGBP sell setup

FX:EURGBP   Euro Fx/British Pound
16801 84 314
Hi Guys, this sell looks like a good one, considering there is bigger correction in play on the daily and weekly chart.


Trade with care
Thank you for your support.
Comment: Good Morning Traders, I just woke up to a lot of crazy comments on the post. If any is going to quote me please do so accurately. Here is what i said."If you don't have a STRATEGY to trade breakout trades then DON'T TRADE."
If you ask where to enter don't trade it .
If you ask where is the strop don't trade it.
If you ask is it a break out don't trade it.
This all means you don't have a plan and no strategy so you are not ready to be a trader. You are not ready to take responsibility for your actions.
Win or lost, you should be ready to take responsibility because you should have done the necessary testing ands know that your strategy allows such .
My post is only giving you a sense of direction as yo where my analysis say it should go .
Comment: **if anyone** is going to
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Comment: clarifying the corrective structure
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YouTube: https://www.youtube.com/channel/UCmvABDWwbqRvh0QGAf-86_Q/videos
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I agree...it should also break the .88 TL too...so this is a very good entry!
+1 Reply
The current MACD structure is helping in this idea?
+2 Reply
yes, what about the macd divergence?
+3 Reply
Dinkan MartinVlaev
He just said that sell the breakout. That simply means, right now it is not to sell, if it breaks out the yellow line there is a possibility to sell. When it breaks out and the divergence is still there you can put this question. Right now, we see if it breaks out.
+1 Reply
ok, about 10 pips below the yellow line, the divergence is still there :) Is it a break out?
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Dinkan MartinVlaev
If you don´t know how a pair breaks out, then you should not be trading live.!
+1 Reply
I'm not trading live, just learning and asking for advice :)
Can you help?
+4 Reply
Dinkan MartinVlaev
I can't, but Anil will do. Contact him via PM.
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lincolnborgesrp MartinVlaev
"If you don´t know how a pair breaks out, then you should not be trading live.!"

I wonder if the person that say this, really knows what is a breakout.

I never saw someone explaining a breakout, only the same speech

"eeerrrr.. if you eerrrr dont know what is errrrrr.. breakout eeerrr.. do not trade live"

¬¬
+6 Reply
arshadd lincolnborgesrp
Good splap.. Weldon lincolnboresrp
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mellowhype90s MartinVlaev
You don't really know if it is or not a break out, it can be a fake one, that's why many traders prefer to wait until the price retest the area once the break out is produced, but by waiting you can miss the opportunity. I prefer both, if the setup allows me a more tight s/l, I take the break out.
+2 Reply
Dinkan MartinVlaev
Hahaha, those who nosedive must have broken theirs Nasal bone
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Everyday learning, everyday getting better. ThankYou Mr. Mangal. Greetings from Germany
+1 Reply
Just broke through and shorted. Hmm where is a good stop loss?
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I dont think the price brokeout.. 1 pip after the "line" does not mean brokeout
At least 10 pips, this is a really brokeout
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harryexe lincolnborgesrp
Hmm, to me a breakout is a #M30 candle opening below the support or the trendlind in this case. Either way, I have other reasons to short this.
+1 Reply
EdmondS harryexe
how do you determine where to put your stop loss?
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harryexe EdmondS
I'm not sure from his strategy. But for this trade, I'm giving myself slightly higher than the previous high for stop loss
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EdmondS harryexe
Okk thanks!
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harryexe lincolnborgesrp
Break out seems pretty clear now
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ok, good luck for us :-)
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im really waiting for this, and yeah im shorting on this. thank Sir Anilmangal
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Very nice Anil!!!! I am going to take this one! Thanks for sharing!!!
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Appreciate if anyone can answer this.

What is this wave pattern / method exactly called?
I can see a breakout but I dont really think that its a strong one, not to forget EUR news coming in a few hours.

Thanks.
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I was also on the same strategy of a breakout setup to go short. If it breaks out within the next 3 hours it would be nice. Otherwise I'll go long on this one due to the news coming in 4 hours time. Thanks Anil. :)
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It is break and its go up again, `dont let people to loss money from your assumption, at least you have to be really sure about the breakout line so people can get in
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"know when hold em, know when fold em, know when to walk away, know when to run".... i think we are big boys and girls here. I took the trade and sometimes it doesn't work out. On to the next.
+1 Reply
well said, i am in the trade since last week and still in , even the big spike did not scared me !
+5 Reply
GamingZone anilmangal
well said. Mr Anilmangal taught me about how we enter after the flag, waiting for retracement and so on. im following his analysis on youtube and i can said that his analysis are good and worthy to take the risk. For me he is the best. keep it up Sir Anilmangal
+2 Reply
ali.forexwala anilmangal
Can i know your tp and sl ?
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anilmangal PRO ali.forexwala
Yes sure you can , stop is where my strategy says the trade is no longer valid and TP is where my strategy says I am expecting it to go. Now do what your strategy says you should do.
+7 Reply
ali.forexwala anilmangal
Thanks, Now got your point.
my SL hit.
now speedy going up.. what do you say now ?
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Why do people have to say something- just to say something ''Pride is an ugly thing''

Look at every chart Mr. Anil has posted on Tradingview and one will see consistencies. Instead of being jealous, then appreciate that there is one person who is committed to teaching us amateurs a thing or two. Thank you Mr. Mangal for your free knowledge and helping me becoming a better trader.

His trading style is based of ''Elliott Wave Theory'' and that means there are ''STRICT RULES'' one has to be familier with and if all ''The Einsteins around'' have problem with his strategy- then stay away and leave the gold for us.


+4 Reply
Anil, I agree with your statement. Thanks!
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There is nice volatility now. I guess we will see big movement to one direction soon..
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Thank you for your analysis!
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Thanks Ani for the great chart.
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MOST WHO COMPLAIN ARE OVER LEVERAGED AND UNDERFUNDED.SAME STORY,DIFFERENT YEAR.
+1 Reply
OmarDjurhuus PRO Elliott Moore
Well said Elliott Moore, I could not have said it better.. ;)
+1 Reply
Elliott Moore PRO OmarDjurhuus
thanks Omar. I liked your comment as well my friend.
+1 Reply
Always a fan of your work.. thank you very much for your ideas. Keep it up.
+1 Reply
I've a different view:
EURGBP long after breakout
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Thanks for sharing
+1 Reply
Oooooo, but let us see. I am very convinced it will go down ....
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It was always easy to see this wasn't an ideal setup. You don't need to know anything about wave theory to check what your risk to reward is before entering.
EURGBP no trade setup yet
+1 Reply
judderod judderod
Entered sell at 8965.
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You dont wait for confirmation?
+1 Reply
judderod mellowhype90s
My strategy for this type of trade is higher risk. A long wick and fast reversal is possible, so there may be no confirmation. Look at the last touch of this line on the 1H chart, there was no confirmation. If price does break the upper line, I predict a flag will form just above it, giving the chance to close out at BE. Let's see - it's high risk and I do not recommend anyone else should try this.
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I understand, thank you.
I will personally wait a reversal candle on lower timeframes considering a short position in this setup.
+1 Reply
Jor4hub judderod
I would leave it
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judderod judderod
Now moved stops to BE. Thank you Anil for the excellent sense of direction.
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judderod judderod
Stopped at BE. Now I will look for confirmation.
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I love how you consistently use Anil to promote your own tradingview page.. :))))))))))
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judderod ChristianHoeghHolm
Interesting observation. Glad it makes you feel loved up xxx
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More disgusted than loved really. Can't get attention on your own, so you siphon from the whales.
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judderod ChristianHoeghHolm
Stops to BE.
I can assure you I have no interest in your attention.
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Looking good
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Guys anil is one of the best trader i have ever seen in my life. If he gave a setup, you guys have to trade with your plans. If you dont knw how to trade on breakouts, then give sometime for learning. He may not give answer all your questions.he is a buxy man. Dont talk about bullshit things.
+1 Reply
inkwell ihsan_Nax
Totally agreed!
+1 Reply
Thanks Anil! Appreciate you sharing your analysis with everyone
+1 Reply
Anil, regarding breakouts and trading signals in general I would like to share a filter for these I read about. It involves the CCI indicator set at 20 not 14. When it passes the 100 line and this is the key part, stayed 5 candles above or below that 100 line, the breakout or signal is confirmed. Did you ever hear of this one. I've tested it out and it does have legs. Thanks
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Thanks for sharing, but i have my own tested strategy that works great.
+2 Reply
Anil, can you please share another comment if you start to believe your trade is no longer valid? I am still in the trade.
+1 Reply
I am as well.. Was not expecting that last candle damn
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update posted
+1 Reply
emrtrade anilmangal
Thanks a lot! I took a sell position at the top and as soon as it hits my first selling point I will exit all of my trades and get a little profit in total. Hopefully.
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i dont understand why you guys selling eurgbp. the fundamental is buy on this and overall trend is buy. tell me why look for sell setup????
+6 Reply
Anything that you can call fundamental is priced into the structure, if you trade based on market structure, you dont need to worry about trends, 'resistance' etc. Anil's webinars and youtube videos show what market structure is all about, give them a try.
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indianlover100 nxtleveltrader
I am still in this trade with a loss.Can I close this trade?Please help.
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nxtleveltrader indianlover100
If you do not have a tested and successful trading strategy then my friend you should not be trading at all, you will blow your account in no time. This is analysis not trade calls.
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LeGrice PRO nxtleveltrader
i do appreciate the work of anilmangal very much; he is a much better trader than i am and i do accept that; but what i do not understand is how a spike that on all gbp pairs almost simultaneously takes off at almost the same time should be something that is only related to structure (even if this time it was the wrong direction)
i m still convinced that there is something that doesn t care about sctructure, waves, fibs, or whatever - (but i m only a novice trying to understand what is happening on the charts)
nevertheless it is undoubtful that this kind of trading shows marvelous results if you do really understand it...

+3 Reply
burrr PRO LeGrice
its all about rules
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Beautiful trade ! Thank you
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You change all the time !
+1 Reply
TIME TO RIDE POUND WEAKNESS
similar trading style but contrasting ideas
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SIMPLE AND CLEAR, SELL THE BREAK OF THE TREND LINE
similar one here
+2 Reply
Thanks for your always useful updates. Just to clarify your comment on breakout: you are thinking of a breakout to the downside in that case?
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anilmangal PRO chartmaster
no , to the up side , since the pattern at the top already made 5 waves in it
+1 Reply
anilmangal PRO chartmaster
Posted an update showing it , thanks for asking .
+1 Reply
chartmaster anilmangal
Thanks for that!
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gnar... looked at the "clarification chart" for 1+ minute asking myself am i dreaming or gone insane. then noticed that it is a 15min-timeframe-chart.... need a rest ;) have a nice day guys! thanks anil!
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Could you post an update please ?
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This just got interesting...
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