Day trade
/
Sell
Trade view / 09 January 2018 at 7:49 GMT

Break below key averages points EURGBP lower

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Instrument: EURGBP
Price target: 0.8761
Market price: 0.8812
Background

This week's negative bias has already been confirmed. Yesterday's strong extension of Friday’s decline yielded sustained prices below the 13/100 day moving average area. The proximity of the 200-day line, and oversold extremes, adds a note of caution but currently we look for any profit-taking to be temporary and limited with the downside likely to continue to develop.

Management and risk description

A move to 0.8792 means the stop can be lowered to breakeven.

Parameters

Entry: sell in 0.8815/20 area and at 0.8840.

Stop: 0.8864 bid.

Targets: 0.8792, 0.8779 and 0.8761.

Time horizon: intraday, closing 16:00 GMT.

Through averages:
Through Averages
Source: CQG
 
Strong selling:
Strong Decline
Source: CQG
 
Long-term:
Long Term
Source: CQG

— Edited by Michael McKenna

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here
2y
Mattyboy Mattyboy
Literally as soon as I entered this it shot up to -£300 :(
2y
Kashif khawja Kashif khawja
Dear Mattyboy, Risk management is on your part. I have earned good pips on shorting this pair. What I learnt is to enter near Stop Loss levels. WE SHOULD BE THANKFUL TO FREE ADVICES OF EXPERTS.
2y
Cesime Cesime
Matty this trading
2y
Mattyboy Mattyboy
Loud and clear thanks to them capital letters
2y
ContraTrades ContraTrades
Tend to go against as it is of higher probability. Much better success rate. Come to me mind games.
2y
marran marran
this isnt looking great at the moment
2y
marran marran
i have done this trade to hold over the rest of the week so all is not lost! (yet)
2y
AlanCollins AlanCollins
Best of luck with that Marran but the Trade Idea I posted was only aimed for Tuesday, closing at 16.00 GMT.
2y
Mattyboy Mattyboy
I'm still holding out for yesterday's trade but not looking too good at the mo

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Tradingfloor.com permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Tradingfloor.com and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Tradingfloor.com is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Tradingfloor.com or as a result of the use of the Tradingfloor.com. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through Tradingfloor.com your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail