Quick update from my previous post โ I exited the position early, taking a bit of profit and cutting losses. I got a little too anxious on the wick tap ๐ฅ. When wicks and volatility spike, my instincts get hyper about a move to those highs, but the higher timeframe was going against me.
Lesson learned: patience is key. Waiting for full candle mitigation inside the zones before entering longs. Until then, just letting price play out and staying patient. On to the next setup ๐ฆ๐ช.
EURGBP Closed the position at breakeven, the market structures are sad. The price action has been at my entry level twice and now thrice. Not doing anything but ranging.
As there is news today on Euro, the price might range again at the old levels or at some new levels. So staying out of market is a better option.
๐ Analysis Approach: Iโm applying Smart Money Concepts, focusing on: Identifying Points of Interest on the Higher Time Frames (HTFs) ๐ฐ๏ธ Using those POIs to define a clear trading range ๐ Refining those zones on Lower Time Frames (LTFs) ๐ Waiting for a Break of Structure (BoS) for confirmation โ
This method allows me to stay precise, disciplined, and aligned with the market narrative, rather than chasing price.
๐ก My Motto: "Capital management, discipline, and consistency in your trading edge." A positive risk-to-reward ratio, paired with a high win rate, is the backbone of any solid trading plan ๐๐
โ ๏ธ Losses? Theyโre part of the mathematical game of trading ๐ฒ They donโt define you โ theyโre necessary, they happen, and we move forward ๐โก๏ธ
๐ I appreciate you taking the time to review my Daily Forecast.
Stay sharp, stay consistent, and protect your capital โ FRNGT ๐
๐จ Fear & Greed Index Neutral (52/100) โ๏ธ Balanced investor emotions โ no extreme panic or euphoria. Markets are steady, but watch for shifts from upcoming ECB/BoE data.
๐ Fundamental & Macro Score EUR Side: 6/10 ๐ก Eurozone growth at 0.9% for 2025, inflation nearing 2%. ECB cuts support recovery, but tariffs pose risks.
GBP Side: 7/10 ๐ข UK GDP outlook stronger at 1.1%, with BoE holding rates steady. Fiscal stimulus aids Pound, despite stagflation worries.
EURGBP EURGBP โ Speak My Mind ๐ฃ๏ธ On the 4H, bullish structure is locked in, so I wanted to respect that flow. Dropping into the MTF, price mapped out mechanically clean and respected our OB zones. From there we got the CHoCH we needed, and the LTF gave continuations โ caught a couple solid plays off that move.
Now Iโm eyeing the next setup: waiting for price to take sell-side liquidity and potentially dig deeper into my secret anchor OB. From there, Iโll be lining up longs and aiming at 5M highs, or 30M highs depending on how market delivery unfolds.
EURGBP EURGBP Update ๐น
