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EUR/GBP - What a great pair to trade!

  • #1,041
  • Aug 30, 2010 4:13am Aug 30, 2010 4:13am
Quoting yaed
Bye the way, hi Forexsaint. (im guessing you use that picture for mutiple profiles (3>))
Bye the way no idea what u r talking about? Do you mean i have multiple usernames on FF that too wth same picture ???
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #1,042
  • Edited 4:55am Aug 30, 2010 4:35am | Edited 4:55am
Quoting forexsaint
Do you mean i have multiple usernames on FF that too wth same picture ???
Yeah, well i mean there are at least 2 other profiles with the same picture.
My signature is: "Classified".
  • #1,043
  • Aug 30, 2010 5:56am Aug 30, 2010 5:56am
Quoting yaed
Yeah, well i mean there are at least 2 other profiles with the same picture.
Wow.. do post the link to their profile here or pm me, so that i can know if someone is using his/her pea-sized head to feign my identity with same avatar and can report it to twee. Or you better report it and get them banned in case they are doing something which is against forum rules.
Be a responsible Forum member
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  • #1,044
  • Aug 30, 2010 6:04am Aug 30, 2010 6:04am
Quoting forexsaint
, so that i can know if someone is using his/her pea-sized head to feign my identity with same avatar and can report it to twee.
Hes not so dont worry about it, it just a little confusing thats all. If you still dont think so have a look at this thread.

http://www.forexfactory.com/showthre...29#post3926829
My signature is: "Classified".
  • #1,045
  • Edited 7:23am Aug 30, 2010 6:34am | Edited 7:23am
Just Longed a half size @ 8163 (thinking of better R:R)
Stops around 8140.
Lets WnW
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@yead.
I just saw that profile for the first time. Mine is a more colorful terror though ..lol
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
  • #1,046
  • Aug 30, 2010 6:53am Aug 30, 2010 6:53am
Quoting forexsaint
Just Longed a half size @ 8163 (thinking of better R:R)
Stops around 8140.
Lets WnW
Thats a little to gutsy for me, the volatility is really dreadful today, which means it will be a slow journey to youre TP. But i dont have a lot of experience trading this pair in longer timeframes, so what do i know.

I can see that we can get some up movement, since CCI is at 165, so it cant go lower in that speed anymore. We are in upper part of channel so up movement is not probable for a long time. But if there is a tough support around .816, then yeah we could get some bounce upwards. Seeing as we have had two bounces at .816 before, id give it a 50% chance of holding again.

Bounce at .816 would coincide with bounce of 1.27 in E/U, but im not betting any cash on this.
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My signature is: "Classified".
  • #1,047
  • Edited 8:14am Aug 30, 2010 8:04am | Edited 8:14am
Wow.. What a quick move up from 8160 to 8186 till nw
H4 & H1 look sexy, as of now
Now stop at BE +10
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  • #1,048
  • Aug 30, 2010 8:14am Aug 30, 2010 8:14am
Quoting forexsaint
Wow.. What a quick move up from 8160 to 8181 till nw
H4 & H1 look sexy, as of now
Stop at BE
Yeah, surprising considering the mornings slow movement, but not enough movement up and down for me. We are about to go down a little in a couple of minutes i think.
My signature is: "Classified".
  • #1,049
  • Aug 30, 2010 8:16am Aug 30, 2010 8:16am
Quoting yaed
We are about to go down a little in a couple of minutes i think.
yes can..looks like quick retracement move... tight with stops..looking to 8193 to book quick handsome or let it kiss my stop.
ASA that !
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  • #1,050
  • Aug 30, 2010 8:47am Aug 30, 2010 8:47am
Quoting forexsaint
looking to 8193 to book quick handsome or let it kiss my stop.
Darn... missed 93 by spread size.. Hit my trailing stop at 8186.
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Not bad (that were quick 23 pips; enough for my usual sizes; this was half size though)
Anyway moving out... almost for the day!
Happy piping guys.
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  • #1,051
  • Aug 30, 2010 10:33am Aug 30, 2010 10:33am
remember that EURGBP always rises in the last one/two trading days of the month due to the commitment for the payment of the wages in Euro, as some Central Banks sell GBP to buy EUR

I have bought today at 0,8160 - 70 and closed around 0,82

will use further strenght at 0,8230 - 50 to sell tomorrow, after the buy activity has finished

in the same way, in these last two days usually EURUSD holds better than GBPUSD for this reason.
So GBPUSD can also be bought on dips in the last day of the month

Obviously this is not a rule as the market is moved by many other issues, but just pay attention to it and try to set your trades accordingly, it works
  • #1,052
  • Aug 31, 2010 1:32am Aug 31, 2010 1:32am
Thats sound advice im sure, but from what i can see, volatility/volume is to small for me, and has been since yesterday, and friday wasnt much better.
My signature is: "Classified".
  • #1,053
  • Aug 31, 2010 2:29am Aug 31, 2010 2:29am
because it was Bank Holiday in England yesterday

today month end volumes will be much higher, I will sell on strenght 0,8230 - 50
  • #1,054
  • Aug 31, 2010 3:08am Aug 31, 2010 3:08am
Quoting fammira
today month end volumes will be much higher, I will sell on strenght 0,8230 - 50
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agreed....gartley pattern complete now, but wary of this long bar up....will scale in 2 orders 8238 and 8248....stops 8262 if price reaches to complete 1.27 bfly

happy pippin' to all
it had seemed so obvious at the time
  • #1,055
  • Aug 31, 2010 3:52am Aug 31, 2010 3:52am
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Gone to a better place
  • #1,056
  • Aug 31, 2010 4:00am Aug 31, 2010 4:00am
- Its just a probability game ( ah..not a game actually... a gladiator Colosseum)[/quote]

Forexsaint.
Too true, it is about probabilities and the gladiators performing..It's also an observation of mass psychology on a chart...A tug of war between the old the new and the in between. In other words Institutions, brokers, small players....

Alas life really is a game of probabilities. There are no absolutes, just likely outcomes based on the actions of the individual or groups. The outcome changes with every action taken, just like the markets, a candle or two can change the entire picture in an instant! Trading to me is just playing a game of psychology on a graph.
  • #1,057
  • Aug 31, 2010 4:07am Aug 31, 2010 4:07am
Quoting fammira
remember that EURGBP always rises in the last one/two trading days of the month due to the commitment for the payment of the wages in Euro, as some Central Banks sell GBP to buy EUR

I have bought today at 0,8160 - 70 and closed around 0,82

will use further strenght at 0,8230 - 50 to sell tomorrow, after the buy activity has finished

in the same way, in these last two days usually EURUSD holds better than GBPUSD for this reason.
So GBPUSD can also be bought on dips in the last day of the month

Obviously this is not a rule as the market is...
Fammira,

this is interesting information. I did not know this about EUR GBP but the charts confirmed.
  • #1,058
  • Aug 31, 2010 4:28am Aug 31, 2010 4:28am
as I said market can respond in different ways, but is a fact that the buying happens every last one or two days of every month


all this COULD givee chance to collect EURGBP on dips, sell GBPUSD (as they would use this pair to gain levels on the cross), potentially take profit on EURGBP and open a sell at higher levels, and last but not least, open a long on GBPUSD at lower levels

all potential trades with quite good risk/reward ratio, especially if we manage to play the angles...
  • #1,059
  • Aug 31, 2010 4:38am Aug 31, 2010 4:38am
Quoting TraderMerc
Trading to me is just playing a game of psychology on a graph.
I consider it a mathematical mindreading contest, the one that comes closest to a mass mindreading gets to take the gold home for the day.
My signature is: "Classified".
  • #1,060
  • Aug 31, 2010 5:51am Aug 31, 2010 5:51am
Great information Fammira, thank you. Looking at the month ends there does seem to be a correlation with what you said. Would it be possible to share the source of your information or is it a personal observation?

Looking at the chart this is quite a bullish move breaking the trend line and I'm looking for an hourly close above .8235 which has been last weeks high. With bullish divergence on the weekly we could be due some more of this.
Gone to a better place
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