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EUR/GBP - What a great pair to trade!

  • #3,741
  • Dec 1, 2017 9:58am Dec 1, 2017 9:58am
Quoting longshot_nl
{quote} made mistake... should have taken profit. now its up to 0.8800 to bring it to 0.8878 .8850 could happen first. so this will remain my target until 8800 is met where its decision time. {image}
bears won, i am out. don't want this position during the weekend.
  • #3,742
  • Dec 1, 2017 10:07am Dec 1, 2017 10:07am
its actually a gartley.
could still work. will see next week.

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  • #3,743
  • Dec 1, 2017 10:15am Dec 1, 2017 10:15am
Quoting longshot_nl
its actually a gartley. could still work. will see next week. {image}
i close my position 15 minutes ago, look what happens... really...

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  • #3,744
  • Dec 1, 2017 1:51pm Dec 1, 2017 1:51pm
looks like bear flag.

Attached Image
  • #3,745
  • Edited 9:46pm Dec 1, 2017 9:26pm | Edited 9:46pm
either the gartley or the bear flag will work.
since it turned in to a bear flag i became much more bearish today.
I have less confidence in harmonics.

projection of the bear flag is .8642.
If the bear flag works 9142 is invalidated.
8642 is close to 8578 so price may be attracted by it.

but even the bears should want .89xx first so i have wait and see.

daily chart:
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  • #3,746
  • Edited 8:55am Dec 2, 2017 8:43am | Edited 8:55am
bear flag with count. it looks ok.
the pole is so so.. a steeper one is much better.

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.8850 was missed If reached on monday i short it.
looks unlikely to me though because the integrity of the flag would become questionable.
I'll have to wach the 1m chart on monday for an entry.
  • #3,747
  • Dec 2, 2017 8:59am Dec 2, 2017 8:59am
Quoting longshot_nl
bear flag with count. it looks ok. the pole is so so.. a steeper one is much better. {image} .8850 was missed If reached on monday i short it. looks unlikely to me though because the integrity of the flag would become questionable. I'll have to wach the 1m chart on monday for an entry.
nice review.

H4 looks like a good setup imo.
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  • #3,748
  • Dec 2, 2017 9:04am Dec 2, 2017 9:04am
longshot, here's GU daily. This looks like an inside day into strong resistance to me and a sign of weakness. Probably some more fooling around here and then will dump. So this should help this pattern above.
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  • #3,749
  • Edited 9:49am Dec 2, 2017 9:27am | Edited 9:49am
Quoting asgcorp
longshot, here's GU daily. This looks like an inside day into strong resistance to me and a sign of weakness. Probably some more fooling around here and then will dump. So this should help this pattern above. {image}
I like pitchforks. but they need to be more accurate then you plotted them. many accurate rejections.
How you draw a (normal) pitchfork is one of 2 ways:
1) the 3 points of the first 2 waves: start, high and low. those should be the original points of the fork. like this:

Attached Image (click to enlarge)
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2) Many points hit all the 3 lines accurately. Apparently it works then even if the original points are not connected.

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(its a bit shitty example since the median did not work well but its the idear.)

One other way to use is is to use a mid of the first wave as the origin of de middle line. I forgot how its called.
  • #3,750
  • Dec 2, 2017 10:12am Dec 2, 2017 10:12am
lets see what happens. there is always more than just one option, have to keep an open mind. )))
  • #3,751
  • Dec 2, 2017 10:35am Dec 2, 2017 10:35am
Quoting asgcorp
lets see what happens. there is always more than just one option, have to keep an open mind. )))
Perhaps i don't understand. But i have an open mind.
If the input is not accurate, how can you expect the output to be accurate? (i can't come up with a better word then accurate)
Is it an approximation type of analysis?

By the way. i saw this type work before also.
The top line was not met yet. but it can function as resistance now.

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  • #3,752
  • Dec 3, 2017 12:53am Dec 3, 2017 12:53am
Quoting aeternum
{quote} Yes sir, indeed we did but I wouldn't say it's really fast nor a spike. I am still on bear mode here although 4hour seems burnt out but I believe we can look towards 0.874 / 5.
Still in a range here. Currently buys seem to be better unless it breaks 0.874/5.

Pretty good support level but we came from a down move.

Watching for breaks
A 1 pip gain is better than a 1 pip loss.
  • #3,753
  • Dec 3, 2017 5:34pm Dec 3, 2017 5:34pm
EUR/GBP .8785

Its on the slide as FT article says Brexit is 90 pct there on agreement with EU .. EU official reports.

GBP broken up through 1.35

Market is long and wrong on the EUR/GBP.

Its also Long EUR/USD which should come under pressure once the cross unwinds.
  • #3,754
  • Edited 6:45pm Dec 3, 2017 6:27pm | Edited 6:45pm
retesting the flag now.
maybe i should short it, i don't know.
maybe @ 8813

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  • #3,755
  • Dec 3, 2017 8:03pm Dec 3, 2017 8:03pm
Quoting longshot_nl
retesting the flag now. maybe i should short it, i don't know. maybe @ 8813 {image}
some rejection to the pip. we will see.

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  • #3,756
  • Dec 4, 2017 6:00am Dec 4, 2017 6:00am
EURGBP M60 potential's on the upside.
Looking to go long med-term near 0.8760 for the next couple of weeks or so, then Merry X'mas!
Attached Image (click to enlarge)
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Elliott Wave for optimum entry, exit and risk management of trades
  • #3,757
  • Dec 4, 2017 6:26am Dec 4, 2017 6:26am
bottom today. reversal starts Tuesday.
  • #3,758
  • Edited 7:01am Dec 4, 2017 6:40am | Edited 7:01am
Quoting longshot_nl
retesting the flag now. maybe i should short it, i don't know. maybe @ 8813 {image}
picked wrong level. gray area did work.
  • #3,759
  • Dec 4, 2017 7:22am Dec 4, 2017 7:22am
Quoting longshot_nl
retesting the flag now. maybe i should short it, i don't know. maybe @ 8813 {image}
this is what it looks like now. will try short again on retrace to 8813

Attached Image (click to enlarge)
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  • #3,760
  • Edited 9:05am Dec 4, 2017 8:29am | Edited 9:05am
right now i have the feeling the flag will be forgotten and its target won't be met directly.
after 8725 8925 has a strong attraction.
8725 is required to invalidate 914x after this bears can chill a bit. the flag may have formed to push it trough 8780
something like this.

Attached Image (click to enlarge)
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i may be wrong.
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