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EUR/GBP - What a great pair to trade!

  • #261
  • Jan 25, 2010 3:16am Jan 25, 2010 3:16am
I'm looking forward to GBP/USD to break out of its weekly range/Donchian squeeze. Then we'll see some sparks fly. When?
Gone to a better place
  • #262
  • Jan 25, 2010 3:34am Jan 25, 2010 3:34am
Quoting dswk
Based on the H4 Chart :

I'm going now sell @ 0.8775 SL 0.8820 TP open

reasons:
1- we touch the H4 50MA (i use it for trend)
2- Stoch(10.3.3), %RW, MOM and RSI look overbuy.

keep in mind : Weeky have a beautiful Bull Gartley

-> a bear correction is due now...

GL

don't follow my advice, check your chart and demo trade until you are sure ;-)
Still Short from 0.8775 SL @ BE from last friday.
If we success to pass 0.8745/40 i will reinforce. (PP @ 0.8747)

GL.
  • #263
  • Jan 25, 2010 4:08am Jan 25, 2010 4:08am
Quoting virgilum
Hello guys,

what do you think about this?

Attachment

What do you think if I say that this is just a retracement up to 38.2 of Fibo (0,8794) and then it goes down again...so it can follow EUR/USD... ???

Thanks in advance
I wrote this but nobody replied... uff !!!
  • #264
  • Jan 25, 2010 4:49am Jan 25, 2010 4:49am
Quoting ILoveFF
I am thinking to go for long from .8792 or short from .8772
Closed the short on .8740 .. will be long again 8769
  • #265
  • Jan 25, 2010 7:45am Jan 25, 2010 7:45am
Quoting virgilum
I wrote this but nobody replied... uff !!!
I know the feeling. Get used to it.

I use S/R and trend lines and price action and sometimes fibs. So we have to wait to see if we get price action off the 38.2 before we can comment? Correct me if I'm wrong. I'm not a Fibonnacci expert. I even have trouble spelling it.

My next point is it rejected 38.2 almost to the pip. So all I can say is brilliant!
Gone to a better place
  • #266
  • Jan 25, 2010 10:53am Jan 25, 2010 10:53am
Great call, virgilum. Congrats.


Quoting virgilum
I wrote this but nobody replied... uff !!!
  • #267
  • Jan 25, 2010 11:39am Jan 25, 2010 11:39am
Based on Harmonic :

Chart 1 H : I'm long @ 0.8709 (support 1) SL 0.8700 Tp open
I've got this Bullish Gartley from M15 to H1.

In case of fail i place a SELL STOP @ 0.8695.

Let see...
Attached Image (click to enlarge)
Click to Enlarge Name: gartleyeurgbp.gif Size: 38 KB
  • #268
  • Jan 25, 2010 11:45am Jan 25, 2010 11:45am
Quoting dswk
Based on Harmonic :

Chart 1 H : I'm long @ 0.8709 (support 1) SL 0.8700 Tp open
I've got this Bullish Gartley from M15 to H1.

In case of fail i place a SELL STOP @ 0.8695.

Let see...
Hmmm, i'm still yet to be convinced about gartley.
  • #269
  • Edited 1:16pm Jan 25, 2010 1:02pm | Edited 1:16pm
Quoting qwertymyfx
Hmmm, i'm still yet to be convinced about gartley.
Gartley Patterns could be sometime false (or redraw..), it's why you need to use a very small SL (as here 9 pips sl...)

When They are valid they bring u many pips. if not much better to manage risk.
  • #270
  • Jan 25, 2010 1:52pm Jan 25, 2010 1:52pm
yeah been looking at the pound and euro with heat maps and seen the gpb strong on all currencies and the euro weak amongst all

plus i know the the trade weight index is strong between europe and england

so this is a great sell to have going on now

check the pivot points for tomorow there huge

im selling

looks good

usual i get in on the eastern market to get a better value of price entry

does anyone else do that, its less volitile, i think for western currencies not eastern ones.

anyway have fun trading this one
make a mint
  • #271
  • Jan 25, 2010 2:12pm Jan 25, 2010 2:12pm
Quoting dswk
Gartley Patterns could be sometime false (or redraw..), it's why you need to use a very small SL (as here 9 pips sl...)

When They are valid they bring u many pips. if not much better to manage risk.
The Chonchy
  • #272
  • Jan 25, 2010 2:14pm Jan 25, 2010 2:14pm
Quoting swano
yeah been looking at the pound and euro with heat maps and seen the gpb strong on all currencies and the euro weak amongst all

plus i know the the trade weight index is strong between europe and england

so this is a great sell to have going on now

check the pivot points for tomorow there huge

im selling

looks good

usual i get in on the eastern market to get a better value of price entry

does anyone else do that, its less volitile, i think for western currencies not eastern ones.

anyway have fun trading this one
make a mint...
" Heat Maps" could you please post a chart on this Heat Maps, thanks in advance, never heard of this before, sorry for my ignorance
The Chonchy
  • #273
  • Jan 25, 2010 2:24pm Jan 25, 2010 2:24pm
Quoting chonchy
" Heat Maps" could you please post a chart on this Heat Maps, thanks in advance, never heard of this before, sorry for my ignorance
Chonchy, take a look here: http://www.actionforex.com/technical...2007123134104/

there's a little explanation note below the charts

..hope that helps....

Cheers!
Many share my views with me. But I don't share them with them...
  • #274
  • Jan 25, 2010 3:28pm Jan 25, 2010 3:28pm
Quoting chonchy
Thx Carlos.
As from now, (asian session will confirm soon...), i'm not on SL. (still 9 pips risk), order buy still open @ 0.8709 SL 0.8700.
From my graphs, this bullish gartley is still valid. BUT i could be wrong. If i'm wrong i'm lost 9 pips and start selling @ 0.8695.

---> Btw i've got strong message to sell around the current price (0.8712)...
In other hands, if this gartley "fly", objective 1 is 0.8747 and objective 2 is 0.8785. (BUT i receive strong sell pression at the moment who i write).

As a said b4.. This pair is triky... we will see.

So Take Care and GL All... !

Please note: i've no crystal ball !
  • #275
  • Jan 25, 2010 4:19pm Jan 25, 2010 4:19pm
Quoting HouseTrader
Chonchy, take a look here: http://www.actionforex.com/technical...2007123134104/

there's a little explanation note below the charts

..hope that helps....

Cheers!
thankyou very much HT, never seing heat charts before, I'll have to study them interesting, and who ofert them, what broker or company, thanks again in advance, I apriciated
Carlos
The Chonchy
  • #276
  • Jan 26, 2010 1:38am Jan 26, 2010 1:38am
Got SL -7pips on buy and Sell limit engaged @ 0.8695...
  • #277
  • Jan 26, 2010 3:19am Jan 26, 2010 3:19am
Quite a strong news morning. We have had good news for the Euro and waiting for major (GDP) news for Sterling in 10 minutes.

This could set the direction for the next few days. If I see significant direction above or below the lower trend line then I'll be setting market orders lying in that direction.
Gone to a better place
  • #278
  • Jan 26, 2010 3:35am Jan 26, 2010 3:35am
wow what a move !
  • #279
  • Jan 26, 2010 3:37am Jan 26, 2010 3:37am
Quoting dswk
wow what a move !
Better than we could have hoped for!
Gone to a better place
  • #280
  • Jan 26, 2010 4:00am Jan 26, 2010 4:00am
So, we did not have made a new low... could we except now a change of trend ? Based on high tf ? (H4)
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