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EUR/GBP - What a great pair to trade!

  • #1,001
  • Aug 20, 2010 3:17am Aug 20, 2010 3:17am
Quoting sinner-
Hi smikester,

I already took a short on this pair as you know so I hope you are right, but when I look at the weekly chart and see we have been buying non stop all week without even testing last weeks low I wonder if it will happen today.
Good chart sinner. .8180 is strong. Looking back at my chart I wished I had shorted at .8280 where the divergence was even stronger.

Will it happen today? Cable is sitting on strong support at 1.5550. Euro equally above 1.2750. As dswk says, .8250 would be a good place to add shorts.
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  • #1,002
  • Aug 20, 2010 3:21am Aug 20, 2010 3:21am
Quoting Mr.Elliott
hi...smikester,
just wondering....this is not my first time trade EURGBP....why suddenly the pip per value increase...(etc: used to be 1 pip is .012 cent...now it is 0.17cent) any ideas that the broker would increase the price like that...thanks in advance...
Have you changed your account size? It sounds like a leverage change to me.
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  • #1,003
  • Aug 20, 2010 3:27am Aug 20, 2010 3:27am
Only short on this pair...i was short 8230 for a 8180 tp...but missed it
Anyway since H1 H4 daily trends are down i'm shorting rallies, no longs at all!!
This 8240 is a good spot...but ill wait
COT: The precious data ignored
  • #1,004
  • Aug 20, 2010 4:43am Aug 20, 2010 4:43am
Quoting Mr.Elliott
hi...smikester,
just wondering....this is not my first time trade EURGBP....why suddenly the pip per value increase...(etc: used to be 1 pip is .012 cent...now it is 0.17cent) any ideas that the broker would increase the price like that...thanks in advance...
The pips are sized in GBP, so if your account balance isn't funded in GBP then your pip size will be relative to the GBPXXX rate your account is funded in.
  • #1,005
  • Aug 20, 2010 4:59am Aug 20, 2010 4:59am
Just got home from dinner to see this. What a lovely chart, had to post it. Grey is pivot, yellow is R1 and S1.
Attached Image (click to enlarge)
Click to Enlarge Name: eg.jpg Size: 116 KB
  • #1,006
  • Aug 24, 2010 10:08am Aug 24, 2010 10:08am
We have all gone quiet....I am thinking that a short would be good right now from .8220area. Not sure of target yet.
  • #1,007
  • Aug 24, 2010 10:34am Aug 24, 2010 10:34am
Quoting sinner-
The pips are sized in GBP, so if your account balance isn't funded in GBP then your pip size will be relative to the GBPXXX rate your account is funded in.
thanks sinner.....
  • #1,008
  • Aug 24, 2010 12:03pm Aug 24, 2010 12:03pm
i still see a euro weakness it's better short from @8210
  • #1,009
  • Aug 25, 2010 3:07am Aug 25, 2010 3:07am
Hi guys

Ive again becom interested in this pair, mostly because its not moving extremly fast like EUR/USD och GBP/USD. Its moving just about evenly and nice these days. I mostly scalp for 4-7 pips profit in safe zones, what are you guys up to?
My signature is: "Classified".
  • #1,010
  • Aug 25, 2010 3:12am Aug 25, 2010 3:12am
It's true that this pair trades well and generally trends well. Here is an area to watch. If price action around this zone is acceptable in the H1 or M15 time frames, I'll be adding to my shorts. Watch this space as I will post more charts and welcome any input. Please note not all S/R zones are marked here (like the 61.8 fib)

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp100825h4.gif Size: 23 KB
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  • #1,011
  • Aug 25, 2010 3:19am Aug 25, 2010 3:19am
Quoting smikester
It's true that this pair trades well and generally trends well. Here is an area to watch. If price action around this zone is acceptable in the H1 or M15 time frames, I'll be adding to my shorts. Watch this space as I will post more charts and welcome any input. Please note not all S/R zones are marked here (like the 61.8 fib)

Attachment
Smikester you are a legend...where would this thread be without you??!! Thanks heaps for posting your thoughts on this pair. I have learned heaps with this pair because of you. It is one of my favorites!
  • #1,012
  • Aug 25, 2010 3:48am Aug 25, 2010 3:48am
Here's a small entry on the M15. Bearish M15 bar = M30 pin bar. Looks like it might get messed around by the grey area and it's not a great trade:

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp100825m15.gif Size: 16 KB
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  • #1,013
  • Aug 25, 2010 3:56am Aug 25, 2010 3:56am
Quoting smikester
and it's not a great trade:
(Other Euro pairs look much more interseting atm)
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  • #1,014
  • Aug 25, 2010 4:11am Aug 25, 2010 4:11am
Quoting sooshans
it seems that EUR will have an a bullish trend in the 2 or the 3 days to come.
it seems that a flag is about to form.

what do u think? what is ur suggestion to enter?
I quite agree with you. The pair has been gaining momentum since it recently crossed the 200MA going upward.
  • #1,015
  • Aug 25, 2010 4:14am Aug 25, 2010 4:14am
Hi Smirkester.

Having a look at your chart I see a 50% fib level at .8255 coming in, which would just overshoot the upper trendline .
My CCI indicator is positive and prices above the 34 EMA on the 4 hourly, 1 hourly, and diverging on the 15 min. So for now I have to favour the upside, but am not very confident in any call I have to say, because of the thin holiday trading. Yes, the moves are there but it is catching them, a lot of chop and flop in between and stops need to be wider than usual.

Interestingly on the Heikin Ashi candles it looks that we may be turning round on the hourly, or at the very least are in for a retracement …Hmmm….
  • #1,016
  • Aug 25, 2010 5:23am Aug 25, 2010 5:23am
Quoting TraderMerc
Hi Smirkester.

Having a look at your chart I see a 50% fib level at .8255 coming in, which would just overshoot the upper trendline ..
Sorry the fib was drawn off the last swing between .8280 and .8140. I'm not a big fan of fibs but the 61.8 showed good confluence near the trendline. I deleted the other levels because I like clean charts. This is the fib plot:

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp100825h4fib.gif Size: 19 KB
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  • #1,017
  • Aug 25, 2010 7:55am Aug 25, 2010 7:55am
Quoting Onyebuchim
I quite agree with you. The pair has been gaining momentum since it recently crossed the 200MA going upward.
Onyebuchim? I think you may have accidentally answered an older post from 2009.
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  • #1,018
  • Aug 25, 2010 10:17am Aug 25, 2010 10:17am
looks good for a short trade opportunity...4 hour just closed second consecutive bar below 50 ema

one hour t/f not yet there...once current one hour closes below 50 ema...then it will be second consecutive close...

-jacob
  • #1,019
  • Aug 25, 2010 2:15pm Aug 25, 2010 2:15pm
Quoting stranger88
i still see a euro weakness it's better short from @8210
well it was a good trade and will continue to bearish because euro can't go above 1.2710 and even u.s data's are bad just wait to break 26 in euro-usd and we can go 0.8020
  • #1,020
  • Aug 25, 2010 2:43pm Aug 25, 2010 2:43pm
Yes - if we can just break .8180 and close below... There's a daily pin bar off the .8206 - .8200 level and it looks reasonable. I need to do analysis under that figure but there is a lot of space there...

I'm in awe of Germany's continuing industrial success. Not just Germany, of course but figures show that country can make or break Europe - impressive. I am and always was Eurocentric so let's hope the Eurozone survives and our shorts stop no lower than .7220 where the monthly 200ma is sitting.
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