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EUR/GBP - What a great pair to trade!

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  • Post #1
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  • First Post: Oct 29, 2009 2:22pm Oct 29, 2009 2:22pm
  •  smikester
  • Joined Mar 2007 | Status: Member | 8,618 Posts
Just trying to get the price to move, really, now that the markets have closed. So near to TP.
Gone to a better place
  • Post #2
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  • Oct 29, 2009 3:59pm Oct 29, 2009 3:59pm
  •  sooshans
  • | Joined Oct 2009 | Status: Junior Member | 2 Posts
it seems that EUR will have an a bullish trend in the 2 or the 3 days to come.
it seems that a flag is about to form.

what do u think? what is ur suggestion to enter?
 
 
  • Post #3
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  • Oct 30, 2009 3:11am Oct 30, 2009 3:11am
  •  smikester
  • Joined Mar 2007 | Status: Member | 8,618 Posts
Quoting sooshans
Disliked
it seems that EUR will have an a bullish trend in the 2 or the 3 days to come.
it seems that a flag is about to form.

what do u think? what is ur suggestion to enter?
Ignored
Could you post a chart? Thanks.
Gone to a better place
 
 
  • Post #4
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  • Oct 30, 2009 6:35am Oct 30, 2009 6:35am
  •  Pak Tiger
  • | Joined Jul 2009 | Status: Member | 214 Posts
Smikester!!

Could you please enlighten us on why you think that this is a great pair to trade? Would appreciate your reasoning and experience about it as its always helpful to get to know about new things! Thanks!!
 
 
  • Post #5
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  • Oct 30, 2009 7:21am Oct 30, 2009 7:21am
  •  smikester
  • Joined Mar 2007 | Status: Member | 8,618 Posts
Quoting Pak Tiger
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Smikester!!

Could you please enlighten us on why you think that this is a great pair to trade? Would appreciate your reasoning and experience about it as its always helpful to get to know about new things! Thanks!!
Ignored
Hey Pak Tiger

As usual I was making a joke as Europe and London had just closed and the price slowed down to a snail pace. I could have closed but I was close to a TP.

So I thought I'd start this thread and maybe someone with a few million to spare would gap it down a few pips. That could have been you! But you were too late.

Sooshans has posted his thoughts but I would like to see a chart because I don't necessarily agree and I don't like to give trade calls (or query them) unless I'm pretty sure.

It is a great pair to trade, though. Makes firm moves and usually trends well over a number of days and usually respects S/R levels. Small spread, so good for scalping. Moves reasonably slowly so you can get a fill even when scalping. So, unlike GBP/JPY.
Gone to a better place
 
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  • Post #6
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  • Oct 30, 2009 7:35am Oct 30, 2009 7:35am
  •  Pak Tiger
  • | Joined Jul 2009 | Status: Member | 214 Posts
Quoting smikester
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Hey Pak Tiger...
Ignored

Hahah!! that was funny

Well my broker offers me a spread of 5 pips on this pair which basically puts me off otherwise what you are telling, it really sounds good for scalping!!!

Enjoy your trades buddy!
 
 
  • Post #7
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  • Oct 30, 2009 8:43am Oct 30, 2009 8:43am
  •  smikester
  • Joined Mar 2007 | Status: Member | 8,618 Posts
5 pips spread. It should be around 2. What are they giving on EUR/USD?
Gone to a better place
 
 
  • Post #8
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  • Oct 31, 2009 4:25am Oct 31, 2009 4:25am
  •  Pak Tiger
  • | Joined Jul 2009 | Status: Member | 214 Posts
Quoting smikester
Disliked
5 pips spread. It should be around 2. What are they giving on EUR/USD?
Ignored
3 pips on EUR/USD (I'm with FXSOL UK )
 
 
  • Post #9
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  • Nov 2, 2009 3:37am Nov 2, 2009 3:37am
  •  cannarek
  • | Joined Jun 2006 | Status: nothing is new in the world | 804 Posts
next possible entry. now waiting to pull back and good price action up.
Attached Image (click to enlarge)
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Size: 29 KB
 
 
  • Post #10
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  • Nov 2, 2009 4:50am Nov 2, 2009 4:50am
  •  cannarek
  • | Joined Jun 2006 | Status: nothing is new in the world | 804 Posts
Quoting cannarek
Disliked
next possible entry. now waiting to pull back and good price action up.
Ignored
long at 9005, SL 8990, TP 9090
 
 
  • Post #11
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  • Nov 2, 2009 5:39am Nov 2, 2009 5:39am
  •  cannarek
  • | Joined Jun 2006 | Status: nothing is new in the world | 804 Posts
although stop was close (1 pip) now it looks really good
Attached Image
 
 
  • Post #12
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  • Nov 2, 2009 7:36am Nov 2, 2009 7:36am
  •  cannarek
  • | Joined Jun 2006 | Status: nothing is new in the world | 804 Posts
we are higher but need to cross over the next level...
Attached Image (click to enlarge)
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  • Post #13
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  • Nov 2, 2009 8:53am Nov 2, 2009 8:53am
  •  cannarek
  • | Joined Jun 2006 | Status: nothing is new in the world | 804 Posts
half position closed +20
 
 
  • Post #14
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  • Nov 2, 2009 11:28am Nov 2, 2009 11:28am
  •  cannarek
  • | Joined Jun 2006 | Status: nothing is new in the world | 804 Posts
still holding the half of position...
 
 
  • Post #15
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  • Nov 2, 2009 12:39pm Nov 2, 2009 12:39pm
  •  cannarek
  • | Joined Jun 2006 | Status: nothing is new in the world | 804 Posts
Quoting cannarek
Disliked
still holding the half of position...
Ignored
closed by hand +25
 
 
  • Post #16
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  • Dec 8, 2009 3:34am Dec 8, 2009 3:34am
  •  smikester
  • Joined Mar 2007 | Status: Member | 8,618 Posts
Price action on the monthly and the weekly looks bearish to me. That means it might be bearish in the next 2 - 3 months. We are testing 9000 as usual.

9000 is the level to drop through and a daily close below 9000, a solid close without too much pin, will see me shorting this pair for a while.
Gone to a better place
 
 
  • Post #17
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  • Dec 8, 2009 3:46am Dec 8, 2009 3:46am
  •  dinofx
  • | Joined Dec 2008 | Status: Member | 247 Posts
have you ever seen charts jumping outside your screen ?
 
 
  • Post #18
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  • Dec 8, 2009 4:43am Dec 8, 2009 4:43am
  •  smikester
  • Joined Mar 2007 | Status: Member | 8,618 Posts
Quoting dinofx
Disliked
have you ever seen charts jumping outside your screen ?
Ignored
This does not happen to me often... I take it you are very bullish on this pair, then? Would you like to explain?
Gone to a better place
 
 
  • Post #19
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  • Dec 8, 2009 10:08am Dec 8, 2009 10:08am
  •  monikroc
  • | Joined Oct 2006 | Status: Member | 180 Posts
Hey Guys,I think this is the best pair to trade $1=1.76 currently trading a mini on forex.com 1,5 min charts only but peek at the 15,1hr,4hr for trend confirmation,happy trading!!!
 
 
  • Post #20
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  • Dec 8, 2009 10:32am Dec 8, 2009 10:32am
  •  smikester
  • Joined Mar 2007 | Status: Member | 8,618 Posts
10 pips a day? How about 50? Here's a chart:

Attached Image (click to enlarge)
Click to Enlarge

Name: eurgbp091208.gif
Size: 24 KB


I can see an 8 hour pin bar off a swing high in adown trend. It's off previous resistance - Look to the left of the chart.

It's also off a 50% fib retracement with a clear rejection of 61.8

Don't bother trading it because it probably won't work out. I don't give trade calls. I will trade it, though. Target 1 is </=9000. Target 2 I'll let you know if we get there.
Gone to a better place
 
 
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