Selling EUR/GBP. View Appreciated! | Forex Factory

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Selling EUR/GBP. View Appreciated!

  • #1
  • First Post: Nov 7, 2009 9:48am Nov 7, 2009 9:48am
Hi all!

I'm new here so does my knowledge on forex.. I've attached a chart on Eur/GBP (Daily) and see from the tools that it'll be a good move to short the currency pair.. Pls correct me if i'm wrong as I'm still a newbie..
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  • #2
  • Nov 7, 2009 10:48am Nov 7, 2009 10:48am
If we look at your regression channel, we'll see that there is a probability for the pair to reach the other side of the channel either by going sideways or by rising. We can also see some support level formed near the current price. I wouldn't go for SELL at this point.
  • #3
  • Last Post: Nov 7, 2009 11:19am Nov 7, 2009 11:19am
Quoting enivid
If we look at your regression channel, we'll see that there is a probability for the pair to reach the other side of the channel either by going sideways or by rising. We can also see some support level formed near the current price. I wouldn't go for SELL at this point.
True..I also agree with you.. But on the other hand, the eillot wave are almost form with point 1-4 in placed.. The Fib also shows that it's now going down to reach either 127% or 161.8% of the chart... I guess this could be a pretty good signal to go short.. This is where it gets confusing... Still learning though.. Please correct me if i'm wrong..
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