EUR vs GBP: Pair trade setup
Simple trade, trends are pretty clear here I believe.
EURGBP is a strong downtrend and will resume its direction this week I believe.
GBPUSD is an interesting long setup, with 11 weeks at one price and sitting above the mode currently.
You can market buy now, but it'll be 100% confirmed once it reaches my entry level on chart (1.57084).
Targets are for both time and price, you can trade all 3 as single pair trades, or use ADR to measure position size on each side and only trade eurusd and gbpusd on opposite directions.
ADR values are:
So if risking 2% with a 10k capital, you will use 0.19 standard lots for GBPUSD and adjust the EURUSD position size by volatility to match the GBPUSD one as follows:
105.6/98.6 = 1,070993914807302 (ratio to adjust EURUSD position size with)
Thus, EURUSD lot size should be: 0.22 std. lots
If trading single pairs, it's simple, cost per pip as everyone knows.
Good luck,
Ivan.
EURGBP is a strong downtrend and will resume its direction this week I believe.
GBPUSD is an interesting long setup, with 11 weeks at one price and sitting above the mode currently.
You can market buy now, but it'll be 100% confirmed once it reaches my entry level on chart (1.57084).
Targets are for both time and price, you can trade all 3 as single pair trades, or use ADR to measure position size on each side and only trade eurusd and gbpusd on opposite directions.
ADR values are:
- GBPUSD: 105.6 pips/day
- EURUSD: 98.6 pips/day
So if risking 2% with a 10k capital, you will use 0.19 standard lots for GBPUSD and adjust the EURUSD position size by volatility to match the GBPUSD one as follows:
105.6/98.6 = 1,070993914807302 (ratio to adjust EURUSD position size with)
Thus, EURUSD lot size should be: 0.22 std. lots
If trading single pairs, it's simple, cost per pip as everyone knows.
Good luck,
Ivan.
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ivanlabrie.substack.com/
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