Forex Trading Blog

The world of currencies is such a beautiful marketplace to make money on a consistent basis if you know what you are doing. You may all remember what we predicted on the forex trading blog I did on silver named Hi Ho Silver… Clearly it went to the target and that too in the right direction. A lot of the post followers took a directional trade on it not exactly at entry. Well! Today, we have a new trade and one that has a perfect lineup.

Today, we are going to be talking about a trade called the EUR/GBP this is known as a cross pair in trading currencies. For those who have never traded currencies believe me that it sounds like it’s very complicated. The matter of the fact is at Platinum, we make it very easy for you to understand the concept of trading the financial markets. We teach clients on a daily basis that come from all walks of life so just message me and I will try and personally explain the trade if you have any questions. If you would like more information on learning how to trade the currency markets and take advantage of some beautiful opportunities whether you want to get a career in the city or diversify your career or even trade from home let me know and I will do my best to assist.

So what do we see on EUR/GBP and how can you trade it?

We are looking at shorting the EUR/GBP Pair and we are expecting it to fall between 200 -300 fx Pips, yes that is correct! If you traded this at even £10 a point you could potentially make between 2k to 3k on this deal.

Behind every trade at Platinum, we should have the following:

A) A Perfect Technical Reason to take a trade
B) A Perfect Fundamental Reason to take a trade
C) A Logical Reason to enter the trade
D) A Perfect Stop loss which is justified

What have we spotted in the market today?

We foresee a Perfect Head Shoulder Pattern which could be coming into play on the EUR/GBP Pair:
Look at the Chart Attached:

forex trading blog

In this chart the following is clearly visible:

A) Failure of AB=CD Pattern which is perfect for a Head and shoulders Pattern, the reason for failure is because we moved below the 50% fib confluence level.
B) We have clear Resistance and Supply level + Fib confluence level + right Shoulder @ 0.7940 I mean this meets our Technical criteria perfectly
C) Clearly defined Stop loss level which is a major supply level @ 0.7980
D) Fundamentally this goes in synch with the current situation on the euro
E) This could be a banker trade set-up if we compare this with our intraday selling levels on EUR/GBP

HOW TO TRADE THE EUR/GBP:

SHORT THE EUR/GBP @0.7940 WITH A STOP LOSS @0.7980 AND A TARGET OF 0.7740 AND A SECONDARY TARGET OF 0.7640.

Wish you all the best of luck!

Please trade at your own risk, this is no way meant to be trading advice from this forex trading blog but mere analysis of the pair which will I be trading myself.

Have a beautiful day!

Live from the Platinum Trading Floor

Nisha Patel
Platinum Trading Academy

If you would like a free consultation on learning how to trade or you would like to advance your skills, please let me know.

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Earnings Disclaimer:

The information you’ll find in this article is for educational purpose only. We make no promise or guarantee of income or earnings. You have to do some work, use your best judgement and perform due diligence before using the information in this article. Your success is still up to you. Nothing in this article is intended to be professional, legal, financial and/or accounting advice. Always seek competent advice from professionals in these matters. If you break the city or other local laws, we will not be held liable for any damages you incur.