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EUR/GBP - What a great pair to trade!

  • #781
  • Jul 6, 2010 11:57am Jul 6, 2010 11:57am
Quoting archimede
hi smikey, the 200pip gray band you've drawn is the potential reversal zone everyones gotta be looking at now....the gartley-turned-bat 0.854/0.866 is playing out

i think we have seen eur underperform gbp, eur crosses (eur/chf-SNB giving up) taking a hammering with risk aversion back on the table....dont know too much abt the fundamentals but that huge move up in '08 is a valid XA move with this ABC leg coming down....long bars dwn on the wkly and mthly do look ominous as we like the move to decelerate into entry....8000 psychological level strong...
I dug out this post because although I took notice at the time I had not had any experience with Gartley patterns and was unable to comment. Since then I have done a bit of homework and I am liking what I see. Monthly pin, albeit slightly raggy, strong break and so the possibility of a trend change. I shall be looking for entries on pull back from this scenario with a view to getting into some longer term positions. All I can say is thank you. Safe trading.
Gone to a better place
  • #782
  • Jul 6, 2010 1:34pm Jul 6, 2010 1:34pm
i need to take back the comment abt possible 8420 "top" for the broadening bottom scenario

we need to get past thursday's GBP manfacturing data and euro/gbp rates out out of the way....GBP's PPI on friday too....positive GBP news could send GU up to 5300 area....that spells eurgbp weakness at some point.....strong break of 8380 and weekly close above 8450 would signal trend reversal

i'm just on a 8420-40 pullback watch
it had seemed so obvious at the time
  • #783
  • Jul 6, 2010 1:38pm Jul 6, 2010 1:38pm
oh....by the way, GO HOLLAND! make suarez weep on the sidelines this time
it had seemed so obvious at the time
  • #784
  • Jul 7, 2010 5:16am Jul 7, 2010 5:16am
I just open a short position EUR/GBP @ 83.20, TP 50% @ 82.80 & 50% @ 82.30, SL 83.37.

Regards
Nectarios
  • #785
  • Jul 7, 2010 7:30am Jul 7, 2010 7:30am
Quoting Nectarios
I just open a short position EUR/GBP @ 83.20, TP 50% @ 82.80 & 50% @ 82.30, SL 83.37.

Regards
Nectarios
Hi Nectarios. What made you take the short, if I may ask? Could you post a chart? I can see consolidation at .8311 to .8340 and I expect a break out.
Gone to a better place
  • #786
  • Jul 7, 2010 8:52am Jul 7, 2010 8:52am
just IN Long @ 8305 area !

1st TGT 8341
2nd TGT 8378
Final TGT 8400-8420

P.S. i dont hold trades for long
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #787
  • Jul 7, 2010 9:16am Jul 7, 2010 9:16am
right behind you forexsaint....although i've yet to be filled at 8295
it had seemed so obvious at the time
  • #788
  • Jul 7, 2010 9:31am Jul 7, 2010 9:31am
Quoting archimede
right behind you forexsaint....although i've yet to be filled at 8295
Nice. I hope you get those 10 pips more
Just added bit more @ 8303(earlier size was bit small)
lets WnW

P.S.1 Nice bullish wedge coming to conclusion soon
P.S.2 If it breaks 8315 now..i think ain't gonna hit 8295 then.
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #789
  • Jul 7, 2010 10:37am Jul 7, 2010 10:37am
its so quiet you can hear a pin drop....nice bounce for equities though, looks like i may get filled and then some....


GO GERMANY! wanna see u battle dutchland come sunday!
it had seemed so obvious at the time
  • #790
  • Jul 7, 2010 11:09am Jul 7, 2010 11:09am
Quoting smikester
Hi Nectarios. What made you take the short, if I may ask? Could you post a chart? I can see consolidation at .8311 to .8340 and I expect a break out.
Hi Smikester, I'm not a chartist but If you look on the 4H chart, it seems to have turn bearish in the short term. From 83.40 to 82.85 in the short term. If it goes through that level it will find support around 82.40. From there it will most probably bounce back up...

That's my analysis but I can very well be wrong.

Regards
Nectarios
  • #791
  • Jul 7, 2010 12:21pm Jul 7, 2010 12:21pm
Hello there ! Closed half position this morning when price bounce from 200 ema , I put the stop at BE .
Nice trade Nectarios, you use only s/r levels in you analysis ? Can you share more about the way you trade ? Thanks
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.png Size: 40 KB
  • #792
  • Edited 1:15pm Jul 7, 2010 12:53pm | Edited 1:15pm
Quoting archimede
its so quiet you can hear a pin drop....nice bounce for equities though, looks like i may get filled and then some....
Hope you got filled
and i filled in more gasoline somewhat around same level.

Nicely Visible M15/M5 Bullish wedge breakout (after previous false downward failure)
& now it looks like it is on its way
Attached Image (click to enlarge)
Click to Enlarge Name: Clipboard02a.jpg Size: 182 KB



Lets WnW

EDIT: baby took off... looks like !
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #793
  • Jul 7, 2010 3:47pm Jul 7, 2010 3:47pm
Quoting forexsaint
Hope you got filled
and i filled in more gasoline somewhat around same level.
i did....woah, how do you get those shaded lines, multiple ema's?

just got back from the game, price has hit 0.786 @ 8327.....GBP/CHF has drifted lower too....got a buy at 1.0488 for swissy, think we're gonna lose some swiss francs all round tomorrow?

spain's in their first final!.....after this game, there's no chance in hell that germany's coming to spain's rescue if they need a bailout
it had seemed so obvious at the time
  • #794
  • Jul 7, 2010 4:04pm Jul 7, 2010 4:04pm
Quoting archimede
i how do you get those shaded lines, multiple ema's?
yeah. rainbow stuff. makes trading colorful..nothing else

Quote
spain's in their first final!.....after this game, there's no chance in hell that germany's coming to spain's rescue if they need a bailout
hahaha Sure !


P.S. last hourly was bearish. Offloaded some at 8324. Waiting for Re-entry.
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #795
  • Jul 8, 2010 1:29am Jul 8, 2010 1:29am
just Longed @ 8311 again .
Same levels for targets
Lets WnW
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #796
  • Jul 8, 2010 1:48am Jul 8, 2010 1:48am
Quoting forexsaint
just Longed @ 8311 again .
Same levels for targets
Lets WnW
GU spike to 5300 and reverse? that will give this some buoyancy to 8400?
it had seemed so obvious at the time
  • #797
  • Jul 8, 2010 1:58am Jul 8, 2010 1:58am
I am short on thiss pair 8311 sl 8330
  • #798
  • Edited 2:15am Jul 8, 2010 2:06am | Edited 2:15am
Quoting archimede
GU spike to 5300 and reverse? that will give this some buoyancy to 8400?
A bit indirect comprehension - GU's H4 appears more bearish to me than EU's H4, if $ strengthens.
Thinking to add more @8315 area.
Lets WnW

@SwingTrader , looks like you took my opposite trade rather then my broker

@all anyone thinking of 8600 + ? just asking?

What a bearish pin that was on GU h1 !
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #799
  • Jul 8, 2010 2:15am Jul 8, 2010 2:15am
GU showing some tail now.....GBP manufacturing data in an hour....gamechanger?

still right behind u forexsaint with small buy.....got my flanks coverd with swissy buy overnite )
it had seemed so obvious at the time
  • #800
  • Jul 8, 2010 2:42am Jul 8, 2010 2:42am
@8335 ; Today's high
Soon negotiating with previous days high of 8338.

- A mention ( just in case) last day was a IB in the previous upmove ( made over a support zone)

- Over all, we are in right shoulder (completing) of Inv. HnS which is a part of right shoulder (completing) of bigger Inv. HnS.
If they don't false breakout, TGT can anything around 8600

Lets WaitnWatch.



P.S. i don't hold positions for long.
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
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