EUR/GBP Trading Room

Interesting set up on the EURGBP

Took at long at .9129 with a stop at .9105 took this long as the price showed support with a double bottom off the support line.

1st non 1min trade in a long while. Still in a down move but looking for it to move up to test some of the highs. could be a fast one!

See chart.

failed, -24 pips + spread.

The price in a bearish channel on the daily
Support is located around the 0.89-level which is showing strong volatility so far
However, any break of this level I think will lead us to test the lower end channel around 0.88

without neglecting the support line around 0.8840

on the other side i think if 0.89 level keep holding with clear cross and closed above 0.90 important to buyers.

http://www.mypicx.com/uploadimg/1056...11082009_1.gif

I saw what I think is a fairly good opportunity on this pair.
I shorted from .8925, and am looking to profit-take around the .8860 region before price hits the down trend line.

We'll see how this plays out...Important fundys out today.

Cheers

Seems uptrend for now

9150 today?

Long from 0,9007

Im still long from yesterday. GBP news in 5mins if gbp falls we should probably see 0.9200 hopefully broken

price break the 500 fibo level ,that was even a important resistance level ,and he retest it , and now seems to have a bounce from this level, hope to see blue trendline break .
Thanks

Do you think 1.9100 would be a great limit entry for a buy? I want to re-enter there.

Sorry Damien , I trade mostly from the daily chart because i have another job , I wasn't at home when you post this.
I think you refer at 0.9100 level .Still long but I move my sl below 382 fib level

If price have a bonce from 500 fib level ,what you think about this H&S on 4hour chart ?

MyShorT

Entry: 0.90399
SL: 0.91115

1st target: 0.89737
2nd target: 0.89106

:nerd:

Bad trade pep!

The Process To Be Completed...
Toward D3

Any view to share on this one ?

TECH'S

On day charts.......Yesterdays bullish candlestick-secondary shows strong to the up side, Stoch showing Buy signal, RSI moving up, Much more volume in market then past few weeks/months, the physiological 0.9000 must break and hold on the day, then if it breaks and hold 0.9053 will show correction from 0.9410 has finished and a run for 0.9799 will be on again ....... on the down side a re-trace and close below 0.8835 will question the any valid wave theory and a close below 0.8710 will end any support for the longs

FUNDIMENTALS

UK Sovereign Debt Concern, shrinking construction sector and pending elections and the sell off of gilts are not helping the GBP. Thursdays BOE will stay the same so nothing new there.

EuroZone, Member State Sovereign Debt Concerns seem to be pushed to side and supported by ECB as long as no other members come crashing down, German unemployment data was better than expected at -3K, Eurozone CPI at +0.9% y/y.

It’s a busy new week for both Euro and Pound, but the increased volume in the eurgbp show that the interest has started and the consolidation is about to break very soon hold on to your hats and good trading…..

Short 0.9010
TP1: 0.8950
TP2:0.8860
SL : 0.9060

What do you think ?

Seems going well....i'll let it ride until 0.8915-20 and i might buy it from there.

I think to buy around these level (0.8865/60)... What did you think ?