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EUR/GBP - What a great pair to trade!

  • #521
  • Apr 16, 2010 2:03am Apr 16, 2010 2:03am
Quoting smikester

Congratulations forexsaint
Was that sarcastic? Kindly clarify!
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #522
  • Apr 16, 2010 2:07am Apr 16, 2010 2:07am
Quoting forexsaint
Was that sarcastic? Kindly clarify!
That's the trouble, I joke too much. It was not meant to be sarcastic at all. Sorry if it came across that way. If you think you're one of the 5% it means you believe you can be consistently profitable. That is worth congratulations?
Gone to a better place
  • #523
  • Edited 2:33am Apr 16, 2010 2:12am | Edited 2:33am
Quoting smikester
That's the trouble, I joke too much. It was not meant to be sarcastic at all. Sorry if it came across that way. If you think you're one of the 5% it means you believe you can be consistently profitable. That is worth congratulations?
I am also sorry for being cold.
Thanks. Yes this in my signature. is what IMO .
The degree of consistency will seen in future.

Btw what r u trading right now..no posts on trades on EG?
Where this beast is heading in your opinion...short term?

Regards

P.S. I am thinking to post a Chat room link where some traders discuss trades. I only trade EG
What do you think..is it worth posting?
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #524
  • Apr 16, 2010 2:35am Apr 16, 2010 2:35am
I am just feeling that i should long here again @ 8765 for same 8808-8816 zone, at least. But confirmations aren't coming.
Over all my bias is no where and bearish bias has decreased a lot. H4 also produces a nice Corrected-Bullish wedge.
Just WaW'ing as of now
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #525
  • Apr 16, 2010 2:47am Apr 16, 2010 2:47am
Quoting forexsaint
Btw what r u trading right now..no posts on trades on EG?
Where this beast is heading in your opinion...short term?

Regards

P.S. I am thinking to post a Chat room link where some traders discuss trades. I only trade EG
What do you think..is it worth posting?
I traded a small trade off the gap (resistance) which coincided with the hourly 200sma and an hourly pin bar, so that is short. It's headed directly into support so I it's a small trade just for interest and if it does well some might run. I see far too much resistance above .88xx to.89 for much longs, longer term. Just draw a horizontal line on the weekly at .88 and .8850 and you'll see what I mean. It's like brick walls. If they break solidly on the daily then I would be bullish. I'm short EUR/USD, GBP/USD, EUR/JPY, GBP/JPY - all longer term.

If you only trade EG then that chat room idea might be a good idea for you. But I started this thread by accident - read the first few posts, but it seems to be causing some interest, because it can be a great pair to trade. Like most pairs it has its nasty moments. I don't think I would be in on the chat room because I have done that sort of thing before and I don't give it the time. I'm looking for set ups on 8 - 10 pairs usually, not just EUR/GBP so I keep busy...
Gone to a better place
  • #526
  • Apr 16, 2010 3:08am Apr 16, 2010 3:08am
Quoting smikester
I traded I see far too much resistance above .88xx to.89 for much longs, longer term. Just draw a horizontal line on the weekly at .88 and .8850 and you'll see what I mean. It's like brick walls. If they break solidly on the daily then I would be bullish.
Yup ! 8850 zone is marked in gold, by price on larger TF

Quote
If you only trade EG then that chat room idea might be a good idea for you. But I started this thread by accident - read the first few posts, but it seems to be causing some interest, because it can be a great pair to trade. Like most pairs it has its nasty moments. I don't think I would be in on the chat room because I have done that sort of thing before and I don't give it the time. I'm looking for set ups on 8 - 10 pairs usually, not just EUR/GBP so I keep busy...

Yes its a tricky but good pair to trade. I always break up a opportunity from one level to another into mutiple trades. So its high PIP value in USD helps me make good %age account increase.
Let's see how much interest in shown in the thread...and i will inform all about the chat room .
Actually i don't trade greater than Daily n H4 as of now (mainly H1)and only EG (90% times) and sometimes EU and GU (10% times). All entries and exits based on M5 TF. So not a long term trader anyway! Only technicals and No fundies.
Regards


P.S. Entered a small Long now @ 8760. Lets C
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #527
  • Apr 16, 2010 5:58am Apr 16, 2010 5:58am
http://www.forexfactory.com/showpost...ostcount=60967
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  • #528
  • Apr 16, 2010 7:36am Apr 16, 2010 7:36am
The bearish H4 Pin has been rejected by latest Bullish H4 Pin (not totally typical though)

I have just added more longs @8756 to my previous small long @8760
1st Target remains same for me imo..around 8800+area (8808,8816)
Though i am trading this cautiously.. Friday Bash
Lets WnW
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #529
  • Edited 11:02pm Apr 16, 2010 2:00pm | Edited 11:02pm
Lol..
I waited for closing these longs now @ 8785.. till now 4:51 NY time..9minutes to close. !
The most late, into the weekend, a trade is closed manually by me Nice feeling
Attached Image (click to enlarge)
Click to Enlarge Name: Clipboard03.jpg Size: 15 KB


After lot of Ping-Pong bars (commonly know as Railroads, in M5), longs paid off, as expected and so the wait. Don't want them to wait for 1 more day ..hehe !
Daily Closing looks promising for upward outlook (at least not bearish) with a almost Pin rejection
Weekly a indecision Doji (kind of) ..a kinda IB too on my broker feed.

So No WnW now
Just Enjoy The Weekend
Cheers
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #530
  • Apr 16, 2010 2:14pm Apr 16, 2010 2:14pm
i just came across this..what a name for thread hah..so nice relatively slow, and yet higher returns due to gbp..i just closed long +23 before we closed..dont like gaps
  • #531
  • Apr 16, 2010 2:23pm Apr 16, 2010 2:23pm
Opened short for weekend
ROBOT FOREX
  • #532
  • Apr 18, 2010 9:16am Apr 18, 2010 9:16am
gap will be down
ROBOT FOREX
  • #533
  • Apr 18, 2010 10:32am Apr 18, 2010 10:32am
well i like to look at what happens sunday, and start trading once london and new open..looking at weekly, there is big term flag or pennant, triangle call it whatever you want...so ultimately we should be going up. but with current euro sh.t going on, last week prroved to be epic fail for euro, after the promising gap etc...but then again gbp is weak too..we still have room for some downward movement until the bottom trendline..

on shorter term h4 chart, we are in a sort of channel..also see divergance on, and my stoch is heading up, giving a buy signal..some key s and r from last week...
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: eurgbp weeklyf.gif Size: 25 KB
  • #534
  • Apr 18, 2010 4:20pm Apr 18, 2010 4:20pm
So it gap-ed up!
Enjoy the longs guys..! Of course whosoever was holding up.
So we hit the 8800 +zone (i.e expected 8808,8816 zone).

Will start trading today, this lovely pair, again late into the EU session.
C U till then . Lets WnW
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #535
  • Apr 19, 2010 12:11am Apr 19, 2010 12:11am
Quoting Forbes55
gap will be down
You were holding a position? I am hating these gaps. Until they're filled or forgotten direction has no meaning.
Gone to a better place
  • #536
  • Apr 19, 2010 11:01pm Apr 19, 2010 11:01pm
More like a pin ball machine than a chart recently and so I have been steering clear. This pair is a trade off which can fall the most against the USD and so the clever money is on EUR and GBP shorts where we can get them.

But this morning I am seeing a possible set up which fits the behaviour of the "mother pairs".

On EUR/GBP we have a bearish daily bar and a bearish H4 bar to fulfil. We are curently jammed under resistance at .8800 having rejected .8830 - the old favourite - at the top of the H4 channel.

Targets are not much to write home about with support and trendlines at .8750 - .8760 and it's all sounding like familiar territory but worthwhile in my opinion. With .8830 - .8850 as a stop loss area the R:r is worthwhile and could go further.

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp100420h4.gif Size: 25 KB
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  • #537
  • Apr 20, 2010 12:38am Apr 20, 2010 12:38am
Entered short term long now @ 8760
Anything around 8787 would be 1st target.
Important news ahead for both CCY's though !
Would play tight!
Let's WnW
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #538
  • Apr 20, 2010 1:34am Apr 20, 2010 1:34am
Quoting forexsaint
Entered short term long now @ 8760
Anything around 8787 would be 1st target.
Important news ahead for both CCY's though !
Would play tight!
Let's WnW
SL at BE hit.. after the upmove!
Looking for reentry on this gbp good news!
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #539
  • Apr 20, 2010 3:30am Apr 20, 2010 3:30am
Entered long now @ 8755 (a daily support)
Anything around 8787 would be 1st target.
Let's WnW
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #540
  • Apr 20, 2010 8:55am Apr 20, 2010 8:55am
Quoting forexsaint
Entered long now @ 8755 (a daily support)
Was away.
Stopped out at BE +2 pips again.
Though went to 8777. Can't hold up the support at 8774.
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
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