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EUR/GBP Trading Room

  • #121
  • Jul 30, 2009 9:30am Jul 30, 2009 9:30am
Pls guys light up this trend.
  • #122
  • Jul 31, 2009 3:18am Jul 31, 2009 3:18am
I will be considering buying this at 85 stop 84,5 target 86- 86,5
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  • #123
  • Aug 2, 2009 5:48pm Aug 2, 2009 5:48pm
Will it be a Long or Short for this pair ? Any ideas
  • #124
  • Aug 18, 2009 3:15am Aug 18, 2009 3:15am
I am testing new breakout strategy, short from Sydney low or long from Sydney high whichever comes first after Sydney close.

Sydney range today: 20 pips

Short EUR/GBP from 8612 SL 8632 (Sydney high +2) TP1 8592 (1R) TP2 8572 (2R).

Wish me luck!
  • #125
  • Aug 18, 2009 3:20am Aug 18, 2009 3:20am
PS: Hope news and psych 8600 don't affect my TP!
  • #126
  • Aug 18, 2009 3:31am Aug 18, 2009 3:31am
TP1 hit!

SL moved to BE (half position closed at TP1).
  • #127
  • Aug 18, 2009 3:34am Aug 18, 2009 3:34am
Close remaining position at 85826 as price touch my 0.0% fib line and stop.

Solid lines are Syd high low and dotted lines are most recent outside fib (M15).
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  • #128
  • Aug 25, 2009 3:55am Aug 25, 2009 3:55am
Pare euro / pound managed to close above the 100-day moving average, which takes place at 0.87 - I think it gives a chance for couples to increase the level of correction of Fibonacci, which is located at 0.8825. Reducing euro / pound will be limited by 0.8655 support in the event of a breakthrough downward movement will keep 55-day moving average, which takes place at the level of 0.8566. Currently, the euro / pound is trading at around 0.8718.
  • #129
  • Aug 26, 2009 12:40am Aug 26, 2009 12:40am
i'm currently short with the pair at 0.8762 with SL at 0.8820 and TP 0.8666
  • #130
  • Aug 26, 2009 1:53am Aug 26, 2009 1:53am
Quoting navhin
i'm currently short with the pair at 0.8762 with SL at 0.8820 and TP 0.8666
Glad I found this thread. Thought I was trading this pair all on my own!!

Yes, EG is pretty boring, but I don't trade for entertainment. I have 4 open short positions on this bitch and one pending short. Using the dailies and H4 so at least my risk is very low. When will this sucker turn??? Its been defying gravity for a week now and its very, very overbought. Payday when it turns though.

Good luck

Dazzer
  • #131
  • Aug 26, 2009 2:08am Aug 26, 2009 2:08am
Quoting Dazzer
Glad I found this thread. Thought I was trading this pair all on my own!!

Yes, EG is pretty boring, but I don't trade for entertainment. I have 4 open short positions on this bitch and one pending short. Using the dailies and H4 so at least my risk is very low. When will this sucker turn??? Its been defying gravity for a week now and its very, very overbought. Payday when it turns though.

Good luck

Dazzer
Sorry Dazzer I disagree. Weekly oscillators showing bull divergence in favour of euro, BoE statement they cannot afford strong pound, strong euro buying from Eastern Europe and weekly close above+bounce from 61.8% fibo = euro bull to me.

This does not mean e/u go up and g/u go down really, to me it just mean g/u tank and e/u tank much less or g/u longs liquidated and redeemed in euros.

Fundamentals have the chance to really bite you in the arse here bro.
  • #132
  • Aug 26, 2009 2:08am Aug 26, 2009 2:08am
Euro has been building strong over time and I beleive its time now to get its ass kicked as the German Ifo Business Climate comes out in less than 1hr.

Happy pipping


Quoting Dazzer
Glad I found this thread. Thought I was trading this pair all on my own!!

Yes, EG is pretty boring, but I don't trade for entertainment. I have 4 open short positions on this bitch and one pending short. Using the dailies and H4 so at least my risk is very low. When will this sucker turn??? Its been defying gravity for a week now and its very, very overbought. Payday when it turns though.

Good luck

Dazzer
  • #133
  • Aug 26, 2009 2:14am Aug 26, 2009 2:14am
Quoting sinner-
Sorry Dazzer I disagree. Weekly oscillators showing bull divergence in favour of euro, BoE statement they cannot afford strong pound, strong euro buying from Eastern Europe and weekly close above+bounce from 61.8% fibo = euro bull to me.

This does not mean e/u go up and g/u go down really, to me it just mean g/u tank and e/u tank much less or g/u longs liquidated and redeemed in euros.

Fundamentals have the chance to really bite you in the arse here bro.
I hope you're wrong!!!!!
  • #134
  • Aug 26, 2009 2:19am Aug 26, 2009 2:19am
Quoting Dazzer
I hope you're wrong!!!!!
Me too for your sake bro. But here is the chart:
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  • #135
  • Aug 26, 2009 2:46am Aug 26, 2009 2:46am
Quoting sinner-
Me too for your sake bro. But here is the chart:
An interesting point you have. Look at the possible resistance here.
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  • #136
  • Aug 26, 2009 3:31am Aug 26, 2009 3:31am
Bro that is the sort of resistance that breaks to the upside (3rd try) at least for a headfake if not to break up!

You draw the upper downward resistance but not the lower upward support diagonal which shows a big triangle being formed, what I see is pair which move up too quick so retrace down and now she goes where she been i.e. UP.

Please be careful bro! Don't exit positions because of my opinion (trade your own rules), I just try and give my perspective to help you.
  • #137
  • Aug 26, 2009 3:40am Aug 26, 2009 3:40am
Ok Dazzer, I am home now so can use proper chart here you go, seems there is some room to move down as we at intermediate resistance maybe even back to the pivot blue line.

Hope you are right, I am not trading big TF these days only scalps.

EDIT: Also noticed my system not give any buy signal yet so maybe you are right.
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  • #138
  • Aug 26, 2009 4:37am Aug 26, 2009 4:37am
Im long at 0.8759 my TP is 0.8802 and SL is 0.8749

This is one of the most boring pairs it takes like 2 days to finish your trade. this is my 23 hour or something.

The German Info Business Climate came in pretty solid and the GBP has nothing solid, I mean releases. I hope the euro goes up up up and awaaaaaay

Technically the daily chart shows that the euro's going bull. My tech analysis indicates that the euro is in a uptrend and still going up till the 0.8800 zone. CCI is showing upward movement and the momentum too. The Alligator opened it's mouth wide too ......... waiting to eat some heavy pips

anyway good luck to everybody on the traaaaaaade
  • #139
  • Aug 26, 2009 6:45am Aug 26, 2009 6:45am
Quoting sinner-
Ok Dazzer, I am home now so can use proper chart here you go, seems there is some room to move down as we at intermediate resistance maybe even back to the pivot blue line.

Hope you are right, I am not trading big TF these days only scalps.

EDIT: Also noticed my system not give any buy signal yet so maybe you are right.
sinner-

Thanks for for taking the time to post your reply. I actually agree with your chart and the high traffic area to which you refer in your technical analysis. That blue pivot line should be significant and should we get there, I would expect a ranging couple of months before the market decides on where to go next.
But look at those long bearish candles on the weekly in Jan this year. They are HUGE and having checked back, that 800+ pips range week commencing Jan 4th is unique. I'm only after a retrace to 0.8526 to be in profit and I expect to get it before the end of September, but who knows??

This pair appears to have a mind of its own, I can't see any correlation with anything else. Its risen far too quickly imho and despite being wrong for the past fortnight, I'm still bearish.
Looking at the dailies, we are now at that shooting star from the 5th June and we went south 300+ pips.

As ever, we shall see and I'll keep loading up on shorts when my system says so.

Good luck

Dazzer
  • #140
  • Aug 26, 2009 6:56am Aug 26, 2009 6:56am
Quoting Forty
Im long at 0.8759 my TP is 0.8802 and SL is 0.8749

This is one of the most boring pairs it takes like 2 days to finish your trade. this is my 23 hour or something.

The German Info Business Climate came in pretty solid and the GBP has nothing solid, I mean releases. I hope the euro goes up up up and awaaaaaay

Technically the daily chart shows that the euro's going bull. My tech analysis indicates that the euro is in a uptrend and still going up till the 0.8800 zone. CCI is showing upward movement and the momentum too. The Alligator opened...
Yep. This pair is like watching paint dry and because of Alparis "flexible" spreads it makes it impossible to scalp this sucker. I use H4 and D1 and I'm only looking for 15-30 pips in each trade. We were 8 pips off 0.88 earlier today, but my stochs say we've been overbought on H4 for over a week now and the only way to go from here is down.

In any case, it all depends on the time frame. If I was trading the H1, I would have been a bull and made some serious money buying the pullbacks, but I prefer the longer TFs, especially with this pair.

Really pleased I can share opinions with other traders on this pair. Its a refreshing change from the EURUSD.

PLEASE DON'T ABANDON THIS THREAD

Good luck to all

Dazzer
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