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EUR/GBP - What a great pair to trade!

  • #3,621
  • Sep 7, 2017 2:30pm Sep 7, 2017 2:30pm
Hi mate! I counsel you wait. If you check your 15 minutes or H1 time frame carefully you will see that the price action has formed a symmetrical triangle (or pennant?). Put a 50 SMA on the H4 time frame (or 200 SMA on H1 time frame) and see how it rejects the weekly central pivot (around 0.92066) and bears southward. Much likely a short trade may be in the offing. But please trade what you are seeing on your system.

I may be wrong. Trade safe and prosper.

KP



Quoting bogus
{quote} If it does hit that blue line it would make a perfect channel. I reversed my short and went long at the break of the magenta line but have been stopped out. I'm waiting for another entry on lower timeframes.
Do your homework, follow the footprints of smart money
  • #3,622
  • Sep 7, 2017 6:15pm Sep 7, 2017 6:15pm
I've just gone long with a tight stop.
FF journal: Peaks and Troffs
  • #3,623
  • Sep 10, 2017 4:03am Sep 10, 2017 4:03am
It looks like this to me , will be looking for a buy signal....

Attached Image (click to enlarge)
Click to Enlarge Name: cT_cs_1002554_EURGBP_2017-09-10_21-00-02.png Size: 78 KB
Its all just one persons opinion
  • #3,624
  • Sep 10, 2017 10:53pm Sep 10, 2017 10:53pm
Quoting axecap
It looks like this to me , will be looking for a buy signal.... {image}
Have placed a long at .9113 lets see if we can get to .9193
Its all just one persons opinion
  • #3,625
  • Sep 11, 2017 12:08am Sep 11, 2017 12:08am
The pair is consolidating after key reversal candle last week, maybe it will lead to potential trend changing.
  • #3,626
  • Sep 11, 2017 1:44am Sep 11, 2017 1:44am
Quoting axecap
{quote} Have placed a long at .9113 lets see if we can get to .9193
well...that ended abruptly....
Its all just one persons opinion
  • #3,627
  • Sep 12, 2017 12:20am Sep 12, 2017 12:20am
Lower trend line hit. Waiting...
FF journal: Peaks and Troffs
  • #3,628
  • Sep 12, 2017 3:29am Sep 12, 2017 3:29am
Quoting csc2009
The pair is consolidating after key reversal candle last week, maybe it will lead to potential trend changing.
The trend changed a week ago.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPDaily.png Size: 32 KB
Conventional trading is for losers
  • #3,629
  • Sep 12, 2017 3:41am Sep 12, 2017 3:41am
Such a lovely short trend. I be holding my shorts for a long time now and sleep well a few months ahead. GBP is recovering and EUR is time to weaken a litte as it was too strong recently.
  • #3,630
  • Sep 12, 2017 4:18am Sep 12, 2017 4:18am
Dear community,

I am new here and also quite new to the Forex thing so please excuse the maybe stupid question. But why did the pound rally against the euro when inflation data came out today (Sept 12th, 09h30 UK time)? Inflation was above the expected 2.8%. Isn't inflation negatively correlated with currency values (i.e. if inflation rises, currency depreciates)? Of course, a gazillion of other factors are at play but economic data on UK does not look that rosy either? So why the sudden drop of the EUR against the pound? see chart
many thanks for any enlightement

Attached Image (click to enlarge)
Click to Enlarge Name: EUR-GBP_20170912_10.16.png Size: 69 KB
  • #3,631
  • Sep 12, 2017 6:21am Sep 12, 2017 6:21am
Quoting phantomaz
Dear community, I am new here and also quite new to the Forex thing so please excuse the maybe stupid question. But why did the pound rally against the euro when inflation data came out today (Sept 12th, 09h30 UK time)? Inflation was above the expected 2.8%. Isn't inflation negatively correlated with currency values (i.e. if inflation rises, currency depreciates)? Of course, a gazillion of other factors are at play but economic data on UK does not look that rosy either? So why the sudden drop of the EUR against the pound? see chart many thanks for...
More GBP strength than Euro weakness. Although both the Euro & DXY are showing signs of a decent retracement in progress
Conventional trading is for losers
  • #3,632
  • Sep 12, 2017 6:54am Sep 12, 2017 6:54am
Quoting Ralffe
{quote} More GBP strength than Euro weakness. Although both the Euro & DXY are showing signs of a decent retracement in progress
But why was that? Economic outlook was tepid at best and inflation above expectation; why did GBP strengthen when news broke? Shouldn't it have been depreciated against EUR?
  • #3,633
  • Sep 17, 2017 11:17pm Sep 17, 2017 11:17pm
I'm expecting correction movement before further decline.
  • #3,634
  • Sep 17, 2017 11:25pm Sep 17, 2017 11:25pm
I shorted it just hours ago, @ 0.8788.
  • #3,635
  • Edited 4:38pm Sep 18, 2017 3:26pm | Edited 4:38pm
Long EG.
Less chance of a G rate hike(s) revealed today, and the big talking up of G recently is diminished by these recent comments--which I expect will result in a resumption of the EG uptrend.
  • #3,636
  • Sep 18, 2017 5:02pm Sep 18, 2017 5:02pm
I suggest it is retracing before the downtrend gets going again. I'm looking to short again at .8920. I expect .847 is achievable over the next week or two.
Its all just one persons opinion
  • #3,637
  • Sep 21, 2017 8:27pm Sep 21, 2017 8:27pm
Possible double bottom on 4 hour.
FF journal: Peaks and Troffs
  • #3,638
  • Sep 25, 2017 3:03am Sep 25, 2017 3:03am
i see price going up from cmp .8800 to .8950/.9000

then fall off to .84/0.800

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPDaily.png Size: 76 KB
practising coitus interruptus
  • #3,639
  • Sep 25, 2017 3:36am Sep 25, 2017 3:36am
Thanks for all the posts on this thread, especially charts. At the moment I am playing with .8815 - 2013 highs - as is the price. A daily close below .8800 will see me loading shorts. (I use stop orders, pending orders). In simple technical terms, I see a bearish flag, and a strong daily close below .8770 leads to new lows like .8300. Very long term, very speculative and could be triggered by politics. There is a strong chance of higher inflation figures coming through and interest rate hikes will strengthen the Pound.

Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp170925h4.PNG Size: 28 KB
Gone to a better place
  • #3,640
  • Sep 25, 2017 4:01am Sep 25, 2017 4:01am
The weekly gives a good indication of how far this could go.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPWeekly.png Size: 31 KB
Conventional trading is for losers
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