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eur/gbp

  • #1
  • First Post: Aug 24, 2006 6:11am Aug 24, 2006 6:11am
I noticed that eur/gbp would be a good pair to trade using MA's because not as choppy as some other pairs. Anyone trade this pair? What are some characteristsics of it? Any other non-choppy pairs recommended?
  • #2
  • Nov 29, 2020 9:10pm Nov 29, 2020 9:10pm
eur/gbp sell signal
Attached Image (click to enlarge)
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bakare
  • #3
  • Nov 30, 2020 10:14pm Nov 30, 2020 10:14pm
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPM15 after.png Size: 42 KB
bakare
  • #4
  • Nov 30, 2020 10:17pm Nov 30, 2020 10:17pm
eur/gbp current signal sell for 40 pips
Attached Image (click to enlarge)
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bakare
  • #5
  • Dec 1, 2020 1:52am Dec 1, 2020 1:52am
EURGBP is my favorite currency to trade. Have a look at this chart from yesterday.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBP 45 seconds.png Size: 118 KB
Click to Enlarge Name: EURGBP 1000 volumes.png Size: 161 KB
  • #6
  • Edited 11:03am Dec 1, 2020 9:52am | Edited 11:03am
Indeed, one of the best pairs to trade for day trading. Also love GBPJPY; it has a similar structure, but faster moves. I usually trade GJ on 15M and EJ on 30M for entries.

Altough MA's can be in the chart for reference, both pairs offer nice opportunities in pullbacks and breakouts; S/R levels are well respected, and in my experience, that's all you need to day trade this pairs.
  • #7
  • Dec 1, 2020 3:12pm Dec 1, 2020 3:12pm
I like winning, it has to be over 90%. the charts makes this possible.
  • #8
  • Dec 2, 2020 5:00am Dec 2, 2020 5:00am
Quoting Londonpip60
EURGBP is my favorite currency to trade. Have a look at this chart from yesterday. {image} {image}
Hi There

How do you know which "one" to buy or sell? is it the stronger currency that leads? (as in percentage gains)
  • #9
  • Dec 2, 2020 8:49am Dec 2, 2020 8:49am
Quoting asset21
{quote} Hi There How do you know which "one" to buy or sell? is it the stronger currency that leads? (as in percentage gains)
You just DON'T know. No one does; it's impossible to know how many orders are waiting before your target price. You just watch the market, create an opinion and place a bet; sometimes you win, sometimes you loose. That's it.
  • #10
  • Dec 2, 2020 12:33pm Dec 2, 2020 12:33pm
In some ways you are right, you don't know. But the big money on the gbpusd and eurgbp comes in within seconds of each other in the opposite directions. London session 8am to 14.00pm - dollar takes over as New York opens sometimes.
I think a lot of professional traders look at these pairs and trade them together as opposites. Therefore you may trade eurgbp, use gbpusd for confirmation.
The other way to do it, if gbpusd is going up and eurgbp isn't moving - I would suggest it wants to move up when gbpusd has a pull back.
I only look for 30 points a day - my whole approach is around risk 2% of my account on a 10 - 15 pip stop lose. I'm going to attach a plan from another member showing how powerful it is.
The great thing about trading is there's many approaches - for me this works - I think the whole spot forex market is run by algo's which control price, fractal nature
of the market and therefore if you were a bank it would make sense to trade them at the same time. Chris Lori has some free you tube video's on price delivery to your broker and terminal and how it works, I think he has the best handle on it.
Brexit could change this going forward, who knows.
1 hour chart attached - if you look at spikes they correspond in regards to time.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP 1 hour.png Size: 73 KB
Attached File(s)
File Type: xlsx BATTLE PLAN - MONEY MANAGEMENT (1).xlsx   344 KB | 302 downloads
  • #11
  • Dec 2, 2020 2:54pm Dec 2, 2020 2:54pm
Quoting Londonpip60
In some ways you are right, you don't know. But the big money on the gbpusd and eurgbp comes in within seconds of each other in the opposite directions. London session 8am to 14.00pm - dollar takes over as New York opens sometimes. I think a lot of professional traders look at these pairs and trade them together as opposites. Therefore you may trade eurgbp, use gbpusd for confirmation. The other way to do it, if gbpusd is going up and eurgbp isn't moving - I would suggest it wants to move up when gbpusd has a pull back. I only look for 30 points...
The reason I asked is that I actually spent some time, scalping AU and GA with the sync scroll ex4 and made some money, you can also see the entries when you scroll through the past, like you have done w EG, at the time I did it, GA was following AU and not the other way around, after a while, the news threw me out and then I considered maybe I was just lucky.

Can you please tell me what info the percentages are giving you in relation to each pair? are you staying out when GBP is 0%?

TIA
  • #12
  • Edited 4:59pm Dec 2, 2020 4:40pm | Edited 4:59pm
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP 45 seconds.png Size: 108 KB

I would look at volume candles - just counts transactions per candle. If I was trading today these candles - were arrows are would be interesting to me.
0% MAKES ME MORE CAUTIOUS. sma's on the 15 minute, 1 hour and 4 hour gives me direction. this type of trading is exhausting - 8AM TO 14.00 PM is
the maximum I would do. tend to use tma's for exists. There plenty of people trading these on the forum, I tend to trade into them - i think its easier.
My personal view - I'm more confident looking at two charts rather than just one. I'm not looking for hundreds of pips - just 20 to 30 pips - but I don't want draw down.
Basically you double your account every 20 days.
  • #13
  • Dec 2, 2020 5:04pm Dec 2, 2020 5:04pm
looks like your blind. On you first chart there was a resistance, look left at the peak high and put a line there and you would of got a very good sell entry. Then you was on a support area and selling into support? That is not a very good trading approach.
After you get your sight tested look left and trade right.
Hope this helps.
  • #14
  • Dec 2, 2020 10:06pm Dec 2, 2020 10:06pm
Quoting Londonpip60
{image} I would look at volume candles - just counts transactions per candle. If I was trading today these candles - were arrows are would be interesting to me. 0% MAKES ME MORE CAUTIOUS. sma's on the 15 minute, 1 hour and 4 hour gives me direction. this type of trading is exhausting - 8AM TO 14.00 PM is the maximum I would do. tend to use tma's for exists. There plenty of people trading these on the forum, I tend to trade into them - i think its easier. My personal view - I'm more confident looking at two charts rather than just one. I'm not looking...
Thanks, yes I can see what you're doing, very clever
  • #15
  • Dec 3, 2020 2:55am Dec 3, 2020 2:55am
EURGBP
Daily time frame
Descending Broadening Wedge Pattern
Upward price movement indicated
#fx #forex #eur #gbp #forextrader #forexsignal #forexstrategy #forexmoney #forexmarket #forexlifestyle #forextrading #forexlifestyle #forexview
Attached Image (click to enlarge)
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  • #16
  • Dec 3, 2020 3:29am Dec 3, 2020 3:29am
I do think you can get blinded by the amount of information.
But i was getting sick of 4 break evens and one win - hence using volume candles to try and understand were the volumes are coming in.
Also this interests me from the point of view of other traders, 8am - 12pm - 4pm - 4 hour candles normally increases volumes and traders
try to position themselves around these times with the hope of 30 to 40 pip run.
80% of the time markets are ranging or moving back to the Asian session and 20% of the time they have a price run.
- the gbpusd is all about brexit - AFTER this I may trade it like I used to do.
  • #17
  • Dec 3, 2020 3:50am Dec 3, 2020 3:50am
Quoting Londonpip60
I do think you can get blinded by the amount of information. But i was getting sick of 4 break evens and one win - hence using volume candles to try and understand were the volumes are coming in. Also this interests me from the point of view of other traders, 8am - 12pm - 4pm - 4 hour candles normally increases volumes and traders try to position themselves around these times with the hope of 30 to 40 pip run. 80% of the time markets are ranging or moving back to the Asian session and 20% of the time they have a price run. - the gbpusd is all about...
In forex there is NO centralized trading desk, unlike stocks, so the only volume you are seeing is from your broker.
Do yourself a huge favor and only use the daily or weekly charts with the 20ema as your main tool. Back test what happens when price closes below the 20ema when it is trending. ATM there is a daily close below the 20ema on BGP/CHF daily....from this setup Hold until price breaks the ema in the opposite direction.
Works wonders for me.



cheers mate
  • #18
  • Edited 2:37pm Dec 6, 2020 5:55am | Edited 2:37pm
Its a tick chart with a modification. - it counts ticks - not volume.
  • #19
  • Dec 13, 2020 11:43pm Dec 13, 2020 11:43pm
I see an uptrend on the H4 chart. Price created a gap from the major resistance of the uptrend to only create a retracement indicated by the double bottom chart pattern in the M15 chart to price are of 0.91434 where we can put a wave A.

Selling opportunities can be looked at price area 0.91343 as this is a major Horizontal resistance level which will probably cause a confluence to direct prices down at this B wave.
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  • #20
  • Dec 14, 2020 2:32am Dec 14, 2020 2:32am
Quoting Mosese
I see an uptrend on the H4 chart. Price created a gap from the major resistance of the uptrend to only create a retracement indicated by the double bottom chart pattern in the M15 chart to price are of 0.91434 where we can put a wave A. Selling opportunities can be looked at price area 0.91343 as this is a major Horizontal resistance level which will probably cause a confluence to direct prices down at this B wave. {image}
M15 downtrend channel got obeyed. Price didn't break. We should look for buying opportunities at price area 0.90406
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