GBP: - "Geopolitical tensions worry markets; UK economic confidence slumps - business live" - FTSE 100 has closed firmly in the red, down 43 points at 7,107. - 10,000 manufacturing jobs in the British car industry have been put at risk by the lack of clarity over future trading relationships - Fundamental quant score -17
EUR: - The pan-European Stoxx 600 finished provisionally up 0.35 percent with almost every sector in positive territory. Autos were the top performing sector, with Faurecia leading the gains, up more than 5 percent. The French auto equipment firm said that it's to buy Clarion and launch a Japan-based business group in April. - China trade talks likely to bump up demand for European German produced goods - Fundamental Quant score: +9
*Risk Reward Rounded up for sake of title actual risk reward 1:1.78*
Feel free to message how I get the fundamental quant scores to support my analysis
Trade active
⋅
Position starting to reach target, over 1:1 Risk Reward now. EUR economic news beat expectations again, suggesting further strength and turning point for EURGBP
Trade closed: target reached
⋅
Trade closed for the weekend pretty much met the target that was set.
Since it's the weekend don't want to expose myself to any blackswan events.
Hi, Have a look at my idea and let me know. You take profit point is the stage of reversal, good trade set up. How do you give score to each pair? I analyze on news.
Eren_Jaeger_Trader
⋅
@K.archdoan, the down trend sure is likely! I base these economic scores on a fundamental system. You can dm me for more information! Your position also looks good on a technical note, if economic data also shows signs of short even better next week. Nice spot!
BengalLol
⋅
i like the trade but think a limit order trade would be the way i'd trade this pair, probably going to see what happens on market open and enter this trade with you
Eren_Jaeger_Trader
⋅
@BengalLol, yeah can definitely get a higher risk reward with a better entry. It's a fairly high risk trade anyway considering the momentum of EUR weakness however could be a retrace soon
BengalLol
⋅
@mattycheung, yea took this trade with a limit and made a profit of 6% off of it, thanks for sharing the idea
marcusraiyat
⋅
Great idea !
Eren_Jaeger_Trader
⋅
@marcusraiyat, thanks! Quite high risk due to momentum but just posting the idea as it's a possible swing trade