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Attachments: EUR/GBP - What a great pair to trade!
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EUR/GBP - What a great pair to trade!

Wow!
What a move this has been. Just perfect.
Alas, i didnt catch the break of successful retest of same 8470 level before another successful NASA launch from that level

Just wish, i kept that load of longs
Anyway, Fx is a opportunity river, and i am constructing a dam..lol

Bulls have killed baby bears and grizzlies are bleeding. Will the bears fight back and be more deadly? Sure they will, but when is the question
Days High 8577, closing in to same 8600 Major Level
(Where is is headed? We have to see, as presently the momentum is good and rubber band getting stretched)

Same chart and patterns presently perfectly playing out.
http://www.forexfactory.com/showpost...postcount=1136
Presently :
Attached Image (click to enlarge)
Click to Enlarge Name: EG D1 TF 220810.jpg Size: 108 KB

As posted before, after this break out from neck (red trend line), we are completing the Channel pattern(which is just a part of bigger pattern(see previous post)) whose upper trendline (green) is approx around 8600-8625 zone.

IMO
If we do not see any good degree of retracement here and hit that zone, i will start loading my kitty with Shorts (Though, at that point, PA at smaller TF will be very important and surely give a good idea about how important that level is and whether that point will be swing high or just a halt)
Presently, i am on prowl and will sitting tight (like what jesse livermore said)

So guys, lets WnW
Happy Trading.
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
EURO-STERLING: Gets squeezed to fresh corrective pullback lows of
stg0.8483 as move below stg0.8500 triggers long liquidation, sales from
UK clearers and a major German name among the noted sellers. Momentum
for the break below stg0.8500 was seen on reported option linked trades
(option types inform that a UK clearer has been in the market buying stg0.8400 one
week and eleven day euro puts) associated with end month EU farm payments to UK farmers.

(via Market News Intl)


8530 is DP and WR3, EG able to retake that level?
it had seemed so obvious at the time
Alright, EG babe is moving nicely!

Yesterday, we saw a perfect Retracement and test of the same IMPORTANT level 8470 (with latest swing low @8472)
As we missed the 8600 level by some pips, repel at above level points towards another peak (swing high)

I am IN Long @ 8475 from yesterday, trying to catch this move.
Stops @ BE from morning.

The above trade is esp. important for me to take when the Previous D1 TF bar is a retracement IB.
(IB's in a trend are one of the best setups to trade. I learnt this over time esp. after going through/trading DIBS (Thanks to peter))

As this is friday, wild moves is the caption for today

So Lets WnW this babe is going to entice many ..lol
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
Looking at the swissie it appears that we are abiout to put in a little double bottom on the hourly. The dollar selling has been relentless and a decent bounce is on the cards. Looking to short below .8500 on Euro weakness to confirm, if we get to see this. So far the Euro is holding strong though.

I just sense a good bounce for the dollar coming any day now, if not today, next week, but the market has been so errratic, fundamentals are crap for the Euro as well as for the dollar. The charts will guide us best as always.
Alright..
Nice Hourly up Bar. Presently EG hitting Daily High @ 8538

8543 is a weekly R level on D1 charts
I will be adding more longs on break of 8543

Stops of previous longs moved to 8509
As we can be in end of this whole D1 up swing (as per chart posted before), i will trailing tight past 8575 level (if moves)

Lets WnW
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
Quoting cannarek
although stop was close (1 pip) now it looks really good
So complexible^^ but it sounds good news
went in long 8495....took half at 8538 just now, trail stop 30pips

separately, i see possible cap mid-term for EU 3520 fib pattern short

looking for broadening bottom buy for GBPCHF at 1.5275 too
it had seemed so obvious at the time
A look on the weekly shows a nice double bottom. Potential upside target from here: Another 400 pips to complete the initial pattern.

The 4 hourly shows a triangle in the making which suggests to me more short term downside,( maybe in the asian trading tonight?) before we go up again.

The maginot line now comes in around .8450 ish on the weekly for now.
Chart of the 4 h attached with triangle formation as I see it, also the "Maginot" line from the weekly chart.

The slope of the 34 appears close to meeting with the bottom triangle line and looks like going to be a good buying opportinity when they meet, possibly just below .8500.

IMO the movement of the EURO next week is going to be key for this pair. The EURO chart is still looking very strong, amazing, but the charts don't care what I think about the state of the economy...

Fact is the EURO pulled up EUR/GBP last week.
Attached Image
EG D1 TF Chart is a perfect IB Lover's Delight.
Need not post a Chart !
Its pure consolidation without major retracement.

IMO probability is high that its gearing for supra-8600 levels with this slow retracement & contracting consolidation.
A quick short dip and a rocket-zoom is also not something to be ruled out.

I am in Buy-on-Dip Mode currently with Superb RR ratio of IB Trading.
(A Perfect "Low Shit-High Mint" Setup )

Just went long @ 8500
(Trailing Stop of previous longs hit on Friday with some pips in the kitty)

Lets WnW (The only thing we can do best; with no equity losses )
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
Quoting archimede
yep...the money supply data came in worse yesterday....weakness all rd....looking for support at 5500?

data out in 45mins time
..and GDP shortly. The fundamentals are crap for EUR, cable and dollar. But which is worst???

Euro taking a pasting this morning and EUR/GBP sold off heavily and broken decisively my bottom triangle line.

EURO has more potential downside and has fuelled EUR/GBP moves of late. If this continues we may see a much deeper pullback yet for EUR/GBP.

With so much date out today will be an interesting session.
Alright,

D1 TF IB-Trio broke downwards with retracement till 8466 (till now)
(Halting above low of Parent of IB's (22/09/10 Bar) i.e. 8462)

IMO (and as posted about quick dip -quicker zoom scenario) the way EG is taking a dip, and presently moving back up (8495 right now), it looks like a false break(except if proven) &
False breaks are in fact the most tricky part of Trading IB's

Just added to longs @ 8484 (As i am in Buy on Every Dip mode; as posted before)

I will keep buying on dips, even till it re-tests the red trendline (if does)
as depicted in http://www.forexfactory.com/showpost...postcount=1203
All stops below that line.

Presently carrying double longs (200% size) and
just placed Buy Stop Orders @ 8522 also

As regarding undies (oops...i meant Fundies) and other 101 Stuff, i am a technical analyst and just believe in what price shows me! Thats all.
OnO

Lets WnW
Trade well and responsibly.
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
Lots of great information in this thread! thanks and keep it up guys
EG babe can't get more sexy than this

Just perfect Dip and Zoom Scenario of a downward D1 TF IB false break
Looking gr8 on H1 TF and so does the present D1 TF candle.

Close to Daily high and also yesterdays High of 8521.

Buy Stop Orders in place (as in last post) along with other Longs

Nice baby (M5 TF) Inv HnS Break
Attached Image (click to enlarge)
Click to Enlarge Name: EG M5 False Break.JPG Size: 52 KB


Lets WnW when the break will happen!



P.S. Price just retesting the neck break. Added 50% (of usual size) more longs @ 8501
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
As expected n posted...
what a D1 TF IB Breakout ! Just loving it!
After a long time watching a M5 bar of approx. 40 Pips length (thats biggie for a pair like EG)

Buy stop orders also sucked in (Total 350% longs)

All stops at averaged level of 8505 (way in Profits; First save your A** rule)
Attached Image (click to enlarge)
Click to Enlarge Name: M5 Break Bear Squeeze.JPG Size: 61 KB


As i am writing this, At Daily High of 8559.

Lets WnW , as usual

P.S. GU H4 Candle was perfect Short.(Didn't do as i love my EG babe only )
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
Quoting forexsaint
As expected n posted...
what a D1 TF IB Breakout ! Just loving it!
After a long time watching a M5 bar of approx. 40 Pips length (thats biggie for a pair like EG)

Buy stop orders also sucked in (Total 350% longs)

All stops at averaged level of 8505 (way in Profits; First save your A** rule)
Attachment 551392

As i am writing this, At Daily High of 8559.

Lets WnW , as usual

P.S. GU H4 Candle was perfect Short.(Didn't do as i love my EG babe only )
Great post....what is your long term target (if you have one)?

I love this pair too...I am wondering if it is going to bounce from the 200ma on the daily which is fast approaching. And then maybe look for more longs?
Alright..
NEWS HIGHS all the Way! Daily High 8393 (Still waning away from 8600 level)

Nicely moving Up and proving the false downward break (earlier today; as usual with this pair).
Already broken high of Parent of IB Trio (i.e. 8576)

Attached Image (click to enlarge)
Click to Enlarge Name: Live Long Trades.jpg Size: 50 KB

All Stops moved to 85675
Nicely in profits.. Approx 210 Pips locked (for my usual size)

IMO, we should see supra-8600 levels around 8625 zone.(Thats where approx. that green channel trendline lies, as posted before; Longer it takes it to reach there, up goes the level)
Will Tight trail above 8600.

Lets WnW

P.S. BEARS are surely Dead by now and thats the time to switch sides

Quoting forexstrah
Great post....what is your long term target (if you have one)?
I love this pair too...I am wondering if it is going to bounce from the 200ma on the daily which is fast approaching. And then maybe look for more longs?
Frankly, that was just an update (for the sake of moving this thread). Dont see any thing gr8 in that.

As regarding long term targets, i dont trade long term, so sorry!
Just doesn't work for me waiting for BIG targets (with "once enter and wait for days" Trades).
I believe in higher TF (mainly D1) Trend directed scalping (Trying to mint 2-5 times of the Total Pip move; Trying to time entries at best possible retracements and bottoms/tops; Most of the times; If i can

Though 200MA is surely very important thingy to look at in higher TF charts, i surely dont see it as targets, etc. SnR levels often coincide with it which adds to (or makes) its importance. Thats all.
Happy Trading
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
Quoting forexstrah
Great post....what is your long term target (if you have one)?

I love this pair too...I am wondering if it is going to bounce from the 200ma on the daily which is fast approaching. And then maybe look for more longs?
hi forexstrah....just chking if your 200ma setting is set to smoothed and applied to close? read someone's comment abt 200ma near 8590? mines' an ema... thks

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.jpg Size: 166 KB


closed 3/4 long position at 8588 mthly R3...trailing rest to 8615 wkly R1

sell limits 8615 and 8630.....stops at 8655 for a possible mid-term retrace to 8530 support

got lucky with my long today....price came within 2pips of SL 8463....thks in part to MPC Posen's dovish remarks
it had seemed so obvious at the time
Alright...
At last we got to 8600, the level we talked about when EG was below 8200.

We just recorded a H4 TF Candle of 107 Pips length (rare with this pair)
New Day's High...stands @ 8602

All stops moved to 85836, Tight Trailing now !
Targets as posted before. We are close to the Channel Trend line
(see previous posts for charts)

Cya Guys. Trade Well
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
Quoting forexsaint
All stops moved to 85836, Tight Trailing now !
Trailing Stop hit @85836. No movement for tight trailing.
Booked. approx. 320 Pips (Average of 80Pips*400% size)

Sitting on the sidelines, as of now.

IMO, a quick push up is likely followed by a bigger retracement.

How and when? Lets WnW

Happy Minting.
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
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