EUR/GBP - What a great pair to trade!

price at 8367....will see this long till 8410, then possible medium term short at 8420-25 (6 May low) and 38% ret off (20 May high - 11 Jun low move)


GBP retail news in 5mins could ruin all that though

Breaking the TL at 0.8340. Possible massive move once broken the TL. Hitting Resistance level on daily 0.8381

If 0.8334 break !~~~~~~~~~~


I will sell it

http://askafo.com/apic/2162010eg-654d546fd65.PNG

Is anyone trading this pair at the moment?

I'm short @ 0.8350

Regards
Nectarios

Well it's winding up pretty tight but I have some longs. I don't think much of them. And I wouldn't be excited about shorts either with strong support around .8330. Maybe it will burst out one way or the other.

http://askafo.com/apic/2262010eg-465gf65465hkk.PNG

do you draw these lines yourself?

I closed 75% of my short at 0.8280 for 70pips profit. A small position has been left open with a stop loss at BE+1.

Regards
Nectarios

nice dwn candle after the hammer top on the weekly.....gd pips nectarios

Nice, brave trading Nectarios. I got in at .8290 and added and now we're taking another run at .8230 and .8200.

1 min chart shows a pretty tight channel... but trend is down, and it appears to be sold off with velocity...and then slowly trending back up. My guess is large orders are selling into the upward drift, and the large orders usually win.

For the other traders out there... anyone feel any reason to be long OTHER than just be contrarian for contrarian's sake...?

very large size banks and hedge funds are also considered "other traders", and are welcome to share their opinions as well

In fact... P.M. me your future trades, include times and order sizes u will be putting on (so I can verify you are not a forum troll)

Covered!

I just closed my 25% remaining position on EUR/GBP @ 0.8210 for 140 pips profit.

It could go even lower, (81.50) but I'm out of this pair for the time being.

Thanks for your replies gents. I was lucky.

I'm also nursing a USD/JPY position at 92.00 :-( but I believe that it will reverse in the next week or so. In any case it is only 2% of my capital.

Good luck & Green pips to all of you.

Regards
Nectarios

the eur/gbp is now well under the guns on both the day and week chart
I will be adding to this trade


http://cdn.forexfactory.com/attachme...1&d=1277377103

http://cdn.forexfactory.com/attachme...1&d=1277377121




cheers

tebhttp://cdn.forexfactory.com/images/s...m/big_grin.gif

Currently @0.8258. Anyone cares to share his view on this pair?

Thanks!

My view is that if .8230 holds we may move higher for the time being. The answer is in today's moves.

Everyone is watching cable and how it behaves at 1.5 and if they aren't they should be.

I'm currently net short EUR/GBP but that could change today.

Not my favourite pair at the moment.

as per smikey's earlier post :



Implication A Megaphone Bottom also known as a Broadening Bottom is considered a bullish signal, indicating that the current downtrend may reverse to form a new uptrend.

Description
This rare formation can be recognized by the successively higher highs and lower lows, which form after a downward move. Usually, two higher highs between three lower lows form the pattern, which is completed when prices break above the second higher high and do not fall below it.
The pattern is completed when, usually on the third upswing within the pattern, prices break above the prior high but fail to fall below this level again.

(credit - trending123.com)




8280 mid term resistance eyed......buy limit at 8126....45pip SL and searching D megaphone.....been waiting weeks for this one on the weekly chart below



8126 also 200ema complete 1.27 with BC extension at 1.902


eyeing that 5020-30 sell on GU too smikey, bearish 0.618 gartley complete on daily yesterday.......its friiiday


green pips to all too

weekly -price find suport at 50 fibb and 200 ema
daily - we have a bullish divergence ,if RSI break up the blue trendline we may
see 0,8400/0,8600 , if RSI break down red trendline we go straight to
61,8 fibb retracement 0,7900

Nice charts. I follow price action bars, so when the daily candle closed last Friday it has showed us nice DHLC (Double High Low Close), which I would go short when there is opportunity, but seeing your chart it might go either way believing that the initial move is going be very strong once TL is broken. 0.8240 Area to Long, and 0.8212 to Short.

On my feed I have a double IB on the H4 now breaking nicely to the downside.