EUR/GBP - What a great pair to trade!

Just got IN
Long @ 83248
Stop @ BE (lol)
TP 8350 and above


Would love this entry if works out


Lets WnW, as usual !


P.S. Lol..stopped out already!

I'm staying away just here but I think there might be a small bounce at .8300 for the longly inclined, perhaps as high as .8340...

I am LONG @ 8302 (climb entry; Half Size)
I still think, this is in fact a retracement, and trend is up!
Though, i will post a higher TF chart soon of possible scenarios(both bearish and bullish) in a bit.
Lets WaitnWatch

Yo forexsaint how you doing?

yeah it can be indeed a retrace since it stoped right on -50 fib...GBP is known to love 50 fib retraces
im with you now LONG@ 8307....lets see how it plays...

I am doing fine mate.
One thing i am not liking right now is the IB on H1. It may(again, may) be suggesting bit(in case this is a retracement) more downward move (till 8280 ?),
As regarding GU and Eu, to be frank, i fear more deadly breakdown of GU (Short term; looking at its chart), if USD strengthens.

watch 200MA H1 and H4

I am in this trade

EG, ... love you babe
Just keep on moving like this and spare my SL's too (sometimes when u get naughty)

GU, as expected n posted, new 6-Week low on break of lower trendline H4 TF (Tested multiple times before- Looks like exhausted supply )
Present 1.5325 is important Weekly Level.
If Breaks, very bearish outlook (short term; on USD strength)

8302 Long stops moved to BE

IMO, If we make a new low, we are settling for a deeper base, just in case this is not reversal.
If we move up and close, Daily Bar will be a sure pointer to more bullpower in coming days !

GU is surely looking very bearish to me as of now, at least, relative to EU!

Lets WnW

Been falling good lately again.
Below 8295 is shorting area for me...but i didn't and not planning to.
I will prefer to wait on sidelines as now.
Lets WnW

Well the above seems to speak for itself.

What a dip... Bulls must have got scared/stopped out.
GBP News added the oil in fire!
Alas not part of this move

Daily looking very bearish now.
On higher TF Big Support at 8165-8175 level
Lets WnW

It's the same numbers cropping up again. (Try putting 8210 in search of this thread!) I just closed some shorts and I'm waiting for the lower trend line break/retest for longer term trades now. In the meantime this pair continues to reward the careful and patient trader.

Alright, here is the chart i see Smikey (was waiting for yesterday candle to close, as posted)
- I would draw the UTL of the triangle,you drew, a different way
- That was a failed Upward break attempt (with UTL becoming S after R for a day(top of swing))



Gist:
(1) We are in a channel presently
(2) Which is a part of Symmetrical Triangle (which broke upwards falsely;as of now)
(3) Which is a part of bigger bearish pennant (Bigger Bearish flag, if we dont breakdown now & form a new swing high touching the upward Channel TL; Chances are low though of flag now, the way this is falling as of now)
(4) Whose Pole Started from right shoulder tip of HnS(which was broken on 21st Apr2010)
(5) Which is a part of Bigger Symm triangle (as marked in chart)

Lets WnW, as usual and see where this is heading !


NOTE: All views above and in any of my posts are "IMO".
Everybody is responsible for his/her trades.
Trade yourself responsibly & profitably.

P.S. I STRONGLY disagree from logic that money is not made in intra-day trading (with full respect), in case the last post meant that the terms "patience" and "carefullness" are only possible in non-intraday trading (or simply the orders with swaps)

we all love to draw lines


..

Yes I see what you're saying. It's winding up pretty tight on the monthly. I would expect a break south to .8000 then a retest of .8200 in the longer term.

Re patience and carefulness: These are needed intraday as well as longer term. Agree? I trade intraday and even scalp on M5 but I rarely post them as I'm busy managing them. That statement was not directed at you. OK?

Long here to .8249?

like my chart?

edit: sorry uploaded wrong chart, now right chart

Buy stop: 0.8275
Stop loss: 0.8190

H4: Impulse wave from 2010.06.29 16:00 to 2010.07.20 08:00. Corrective wave reached 76.4 fibo at 2010.08.23 08:00
H1: Impulse wave from 2010.08.23 08:00 to 2010.09.06 12:00. Corrective wave down to 76.4 fibo at 2010.09.08 16:00.

Yep. Like the chart.

Here's a 5 minute chart with a slightly skewed head and shoulders.



Head and shoulders formations nearly always look like pin bars on higher time frames. Interestingly on the H4 chart it looks like this:



Perfectly tradeable and it even had a nice retrace to the 38.2 fib. Points to watch are a retest of the head and shoulders bottom line and the two trend lines below. Oh, and also .8210, again.