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EUR/GBP - What a great pair to trade!

  • #861
  • Jul 13, 2010 2:37am Jul 13, 2010 2:37am
Hi guys,

My trades from last week got stopped out, analysing the reasons I just got to this pitchfork(on chart) that means atm no trade for me. Gonna wait for price to make a decision and go for it.

Lot of luck for all of you and a profitable week.

Red.
Attached Image (click to enlarge)
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  • #862
  • Jul 13, 2010 5:31am Jul 13, 2010 5:31am
8450 a bridge too far indeed....shorted 8341 swkly pivot for test of 8300
it had seemed so obvious at the time
  • #863
  • Jul 13, 2010 6:45am Jul 13, 2010 6:45am
Now I am completely paranoid following last Friday's conversations but who cares what I think? So here's a chart. Sorry it's one of my working charts but I think you get the idea and I am targeting .8275.

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp100713h1.gif Size: 24 KB
Gone to a better place
  • #864
  • Jul 13, 2010 9:14am Jul 13, 2010 9:14am
thanks for helping my trade mr sentance

http://www.forexfactory.com/news.php?do=news&id=245543
it had seemed so obvious at the time
  • #865
  • Jul 13, 2010 2:30pm Jul 13, 2010 2:30pm
Quoting smikester
Now I am completely paranoid
Arggh! That didn't play out and now I have drawn a grey box round the last three days of price action on this pair. I don't think I need to post a chart. When I draw a grey box it means "leave well alone".
Gone to a better place
  • #866
  • Jul 13, 2010 2:43pm Jul 13, 2010 2:43pm
any idea where we're going from here?
still just below the 50 day SMA
i thought that the fundamentals from today would push it back down.
  • #867
  • Jul 14, 2010 3:02am Jul 14, 2010 3:02am
This is what I see for direction as of 10.00:
On hourly:
1st Support @ .8340
2nd support also swing low: .8316
3rd support: .8292, also swing low

Overhead resistance .8393 possibly an inverted H @ S pattern forming??
2nd resistance: swing high: .8419

My indicators show down.

Sorry still don’t know how to send a chart. Could anybody please tell me how to do this? The old technology is not my strongest point.

Merc.
  • #868
  • Jul 14, 2010 3:10am Jul 14, 2010 3:10am
Quoting jimbo86
any idea where we're going from here?
still just below the 50 day SMA
i thought that the fundamentals from today would push it back down.
absolutely no idea.....but your 8340 level seems to be holding....for now

on the sidelines after getting caught ysterday.....meanwhile gone long GU 5196 for a test of 5320


EG 8340 to give way then?
it had seemed so obvious at the time
  • #869
  • Jul 14, 2010 4:53am Jul 14, 2010 4:53am
hanging man on daily, evening star on H4, downtrend on H1. confirm bears?
  • #870
  • Jul 14, 2010 5:10am Jul 14, 2010 5:10am
Quoting buddhy
hanging man on daily, evening star on H4, downtrend on H1. confirm bears?
Well we had three hanging men LOL on the daily. If today's move holds then that confirms a resumption of the downtrend in my book. I have to admit to taking the bearish H4 inside bar on EUR/GBP following toppy looking Euro at 1.27.
Gone to a better place
  • #871
  • Jul 14, 2010 5:24am Jul 14, 2010 5:24am
Quoting smikester
Well we had three hanging men LOL on the daily. If today's move holds then that confirms a resumption of the downtrend in my book. I have to admit to taking the bearish H4 inside bar on EUR/GBP following toppy looking Euro at 1.27.

so we go down.
  • #872
  • Jul 14, 2010 11:24am Jul 14, 2010 11:24am
the upside pressure on the euro has really provided EG some cushion...really hanging onto this 8340 handle

i've got a swissy buy at 1.0445 if it gets there tomorrow for a EU cap at ard 1.2865

even then, will a GU retracement push EG up further?
it had seemed so obvious at the time
  • #873
  • Jul 15, 2010 1:14am Jul 15, 2010 1:14am
http://2.bp.blogspot.com/_8texnURUcC...600/EURGBP.bmp

some action coming soon
  • #874
  • Jul 15, 2010 2:03am Jul 15, 2010 2:03am
Quoting IdentifyTren
some action coming soon
Well observed. How will you trade this? Straight out on an hourly close? Or wait for a retest? (I already set shorts just under .8335)
Gone to a better place
  • #875
  • Jul 15, 2010 2:21am Jul 15, 2010 2:21am
Quoting smikester
Well observed. How will you trade this? Straight out on an hourly close? Or wait for a retest? (I already set shorts just under .8335)
I'd prefer a retest, but I like your aggressive entry

Its sitting right below the weekly pivot too
  • #876
  • Jul 15, 2010 2:29am Jul 15, 2010 2:29am
Short at 0.88440. Convincing Guppy profile turn, and hope to head south for a while now.

Edit; break the ascending magenta TL, and think this may be good to go.
Attached Image (click to enlarge)
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Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #877
  • Edited 5:29am Jul 15, 2010 2:52am | Edited 5:29am
Quoting smikester
Now I am completely paranoid following last Friday's conversations ...
Lol what happened dear?
Looks like i really posted too many posts that day

Anyway guys, was away!
Just watching the charts, now i am feeling this is what i call "exhaustive retrace" downwards.

IMO 8280 is coming (EDIT: just noticed 8315 is also a important level)
If Breaks, 8200
If Breaks, very bearish (8000-7975 area)
Else back up move up to 8600

Over all, i see 8280 & back up scenario!
Lets WnW

@Reddi
Happy "SL hit" on your trade. Don't you think those are also nice sometimes (Categorically, sometimes ONLY )


P.S. Sitting on the sidelines just becoz of some other work associated with FX (less time to trade & i don't trade without being "ON" the screen)
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #878
  • Jul 15, 2010 3:35am Jul 15, 2010 3:35am
Quoting 45Condor
Short at 0.88440. Convincing Guppy profile turn, and hope to head south for a while now.

Edit; break the ascending magenta TL, and think this may be good to go.
Hi Condor.Thanks for the chart. How do you play the trend line break? I'm just interested in hearing different ideas.
Gone to a better place
  • #879
  • Jul 15, 2010 3:36am Jul 15, 2010 3:36am
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took this trade 8426 off 15M chart....dont know how long it'll last, looking overall eur strength....needs to get past 8343 hard (DP nd WP) for any chance higher

moving stop to -3pips soon
it had seemed so obvious at the time
  • #880
  • Jul 15, 2010 3:40am Jul 15, 2010 3:40am
ha....its since come back dwn to bite me....stops at 8423

come on EG....groundhog day like the move on the 13th!
it had seemed so obvious at the time
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