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EUR/GBP - What a great pair to trade!

  • #541
  • Apr 20, 2010 10:14pm Apr 20, 2010 10:14pm
i'm short @ 8770 on a 15M bearish gartley pattern late session yesterday....playing out well for now

targeting 8725 where a 4H bat is forming....might take some profit there, though GBP news is in 5hr
it had seemed so obvious at the time
  • #542
  • Apr 21, 2010 12:59am Apr 21, 2010 12:59am
price at 8724 now.....GU showing strength ahead of news....revised TP1 8660 and TP2 to 8600 (28Jan low)

will buy the 8600 bounce with tight stops....1.618 Bfly pattern there too

watching possible 8690 break with positive GBP news?

thursdays is news heavy as well for EUR and GBP
it had seemed so obvious at the time
  • #543
  • Apr 21, 2010 1:03am Apr 21, 2010 1:03am
see................
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one secret in the forex. im belive.
  • #544
  • Apr 21, 2010 1:07am Apr 21, 2010 1:07am
probability.......
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one secret in the forex. im belive.
  • #545
  • Apr 21, 2010 1:41am Apr 21, 2010 1:41am
Quoting archimede
price at 8724 now.....GU showing strength ahead of news....revised TP1 8660 and TP2 to 8600 (28Jan low)


All making sense but the joker is the lower trend line and I would not be surprised if we were long from .8730 ish which proved very strong support recently.

This scenario would be a bullish retest of 9th April very bullish bounce off that level when we gapped up...
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  • #546
  • Apr 21, 2010 1:48am Apr 21, 2010 1:48am
you're right abt the TL....its actually a 0.866 bat (nice ABCD 0.854/1.27) structure too at this level


just wondering how much of the GBP strength is priced in....if news blows past expectations are we seeing 5580 with GU

i do get distracted by GU correlation at times....just not quite trusting this bat pattern now, but we'll see nxt 2 candles for some direction

its moving up now
it had seemed so obvious at the time
  • #547
  • Apr 21, 2010 1:54am Apr 21, 2010 1:54am
Quoting eslami
probability.......
Hi eslami and I'm liking the last chart the best.
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  • #548
  • Apr 21, 2010 1:33pm Apr 21, 2010 1:33pm
i m looking for a long entry, one of my long term trendlines got hit few hours ago..but i have to see some nice candles to enter
  • #549
  • Apr 21, 2010 1:50pm Apr 21, 2010 1:50pm
Quoting archimede
price at 8724 now.....GU showing strength ahead of news....revised TP1 8660 and TP2 to 8600 (28Jan low)

will buy the 8600 bounce with tight stops....1.618 Bfly pattern there too

watching possible 8690 break with positive GBP news?

thursdays is news heavy as well for EUR and GBP
Great calls Archimede
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  • #550
  • Apr 21, 2010 1:54pm Apr 21, 2010 1:54pm
Quoting ledobedo
i m looking for a long entry, one of my long term trendlines got hit few hours ago..but i have to see some nice candles to enter
Same here. Flat at the moment.
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  • #551
  • Apr 21, 2010 4:12pm Apr 21, 2010 4:12pm
does anyone think there could be a possible test back at tl before a move down? i have a sell order at 0.8732, just below tl and also r1 on daily pivot. soft tp at 0.86
  • #552
  • Apr 21, 2010 4:13pm Apr 21, 2010 4:13pm
forgot to mention, i will remove order if 0.869 area broken first
  • #553
  • Apr 21, 2010 7:58pm Apr 21, 2010 7:58pm
Quoting smikester
Great calls Archimede
hi smikester, thks....though i cant tell u how many times i been wrong....anyways, price at TL 8684 now....enough movement asian session to head for DS1?

looking for EUR data to miss estimates later....geez its really news heavy today, GBP data after is key too

some are calling for 8600 to be taken out.....but i'm sticking to 8600 bounce for now

we are at the LTL of this bullish pennant....if 8600 does give way and fails on retest....8100+ isnt too far-fetched?

Quote
does anyone think there could be a possible test back at tl before a move down? i have a sell order at 0.8732, just below tl and also r1 on daily pivot. soft tp at 0.86
lets get to 8600 today

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it had seemed so obvious at the time
  • #554
  • Apr 22, 2010 1:21am Apr 22, 2010 1:21am
Setting longs now, in this area .8660 - .8650 weekly support. 1st target .8700 weekly resistance
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  • #555
  • Apr 22, 2010 2:06am Apr 22, 2010 2:06am
Quoting smikester
Setting longs now, in this area .8660 - .8650 weekly support. 1st target .8700 weekly resistance
hmm....possible climax sell....pinbar on H1 0.8673 buy?
it had seemed so obvious at the time
  • #556
  • Apr 22, 2010 2:14am Apr 22, 2010 2:14am
Quoting archimede
hmm....possible climax sell....pinbar on H1 0.8673 buy?
Hehe. Missed my main market order by 1/2 pip. Who's having a laugh?
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  • #557
  • Apr 22, 2010 2:20am Apr 22, 2010 2:20am
Lots of news today and this pair could go either way - could get quite volatile for a normally docile pair. I wouldn't trade the pin bar in the normal way as it's going to hit resistance straight away.
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  • #558
  • Apr 22, 2010 2:28am Apr 22, 2010 2:28am
Quoting smikester
Hehe. Missed my main market order by 1/2 pip. Who's having a laugh?
tell me abt it....wont even try.....u still went long though?
it had seemed so obvious at the time
  • #559
  • Apr 22, 2010 2:29am Apr 22, 2010 2:29am
ya gotcha....swissy's probably gonna have a field day either way
it had seemed so obvious at the time
  • #560
  • Apr 22, 2010 2:42am Apr 22, 2010 2:42am
Quoting archimede
tell me abt it....wont even try.....u still went long though?
Well. My style is set small market orders around where I think there might be a turn. I fade them if I'm wrong. If I'm right and then we get an hourly close above .8700 I throw out my gold teeth... LOL
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