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EUR/GBP - What a great pair to trade!

  • #1,321
  • Apr 13, 2011 7:17am Apr 13, 2011 7:17am
Coming down to test the ascending trend line.

EUR/GBP M15
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  • #1,322
  • Apr 13, 2011 7:24am Apr 13, 2011 7:24am
Volume has increased to ultra volume over the last few candles. Sellers coming into the market at the double top?

EUR/GBP H8
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  • #1,323
  • Apr 13, 2011 10:41am Apr 13, 2011 10:41am
Quoting fosking
Coming down to test the ascending trend line.

EUR/GBP M15
Attachment
Broken. Lets see if she has the legs to keep dropping.

EUR/GBP M15
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  • #1,324
  • Apr 13, 2011 10:43am Apr 13, 2011 10:43am
eur/gbp
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  • #1,325
  • Apr 13, 2011 12:22pm Apr 13, 2011 12:22pm
Quoting fosking
Broken. Lets see if she has the legs to keep dropping.

EUR/GBP M15
Attachment
Next big support at around 0.8860 (former resistance / ascending trend line).

EUR/GBP M15
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  • #1,326
  • Apr 13, 2011 3:20pm Apr 13, 2011 3:20pm
I would rather be looking for 0.8850 level on H4 chart.
Previous resistance, now suppose to become a support.
Buy Limit @ 0.8852. We'll see

http://3.bp.blogspot.com/-z2GHrwDkmF...it_support.png
  • #1,327
  • Apr 14, 2011 1:57am Apr 14, 2011 1:57am
Quoting fosking
Next big support at around 0.8860 (former resistance / ascending trend line).

EUR/GBP M15
Attachment
The ascending trend line broke but price was held up by the 0.8858 support level.
Looking for a retest of this level as a there have been three failed attempts to break back above 0.8880.
Will be keeping a close eye on it as PA looks quite bullish this morning.

EUR/GBP M15
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  • #1,328
  • Apr 14, 2011 2:33am Apr 14, 2011 2:33am
I did take some of the bull market after my last post post. Nice charts posted since then. I must admit I was a bit lost here until I noticed foskings chart - .8858. That was yesterday's high but it looks like it's coming to test .8850 properly. That's a daily/weekly level. I'll be looking for longs here...
Gone to a better place
  • #1,329
  • Apr 14, 2011 2:44am Apr 14, 2011 2:44am
Quoting smikester
I did take some of the bull market after my last post post. Nice charts posted since then. I must admit I was a bit lost here until I noticed foskings chart - .8858. That was yesterday's high but it looks like it's coming to test .8850 properly. That's a daily/weekly level. I'll be looking for longs here...
For me it's certainly tempting. The one thing I'm a bit apprehensive about though is the high volume over the last few candles. It's abnormally high so could indicated sellers coming into the market. The only way to know for sure is to wait and see. Haha, ah patience, not my thing

EUR/GBP H4
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  • #1,330
  • Apr 14, 2011 7:13am Apr 14, 2011 7:13am
Quoting fosking
For me it's certainly tempting. The one thing I'm a bit apprehensive about though is the high volume over the last few candles. It's abnormally high so could indicated sellers coming into the market. The only way to know for sure is to wait and see. Haha, ah patience, not my thing

EUR/GBP H4
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Finding support after the nice move through 0.8850.

EUR/GBP H4
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  • #1,331
  • Apr 14, 2011 7:19am Apr 14, 2011 7:19am
Quoting fosking
Finding support after the nice move through 0.8850.

EUR/GBP H4
Attachment
Yes that went a lot deeper than I expected. I'm now looking at the H4 trendline and .8800, but who knows, it could be .8830 ?
Gone to a better place
  • #1,332
  • Apr 14, 2011 7:36am Apr 14, 2011 7:36am
Quoting smikester
I'm now looking at the H4 trendline and 0.8800
Yeah coming into some strong support, trend line and the weekly pivot point.

EUR/GBP H4
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  • #1,333
  • Apr 14, 2011 7:50am Apr 14, 2011 7:50am
Short term resistance at 0.8850 (psychological number and 0.382 Fib level)

EUR/GBP M15
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  • #1,334
  • Apr 14, 2011 10:58am Apr 14, 2011 10:58am
Quoting fosking
Short term resistance at 0.8850 (psychological number and 0.382 Fib level)

EUR/GBP M15
Attachment
Respected?
We may still see 0.8858 / 0.8863 respectively. (resistance from support / 50% Fib)

EUR/GBP M15
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  • #1,335
  • Apr 18, 2011 12:00am Apr 18, 2011 12:00am
It looks to me a nice breakout on the weekly chart. Could see pullback to .86 level. A positive break of the .89 resistance, we could see Jan 2010 levels of .91
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  • #1,336
  • Apr 19, 2011 4:39pm Apr 19, 2011 4:39pm
Quoting Armst227
It looks to me a nice breakout on the weekly chart. Could see pullback to .86 level. A positive break of the .89 resistance, we could see Jan 2010 levels of .91
Attachment

So you'll ignore the weekly pin and resistance (again) at the 8900 level?
  • #1,337
  • Apr 20, 2011 4:48am Apr 20, 2011 4:48am
Agreed great pair to trade! these are a couple taken yesterday and day before, this could be a sustained move as eur rate are heading north and gbp rates on hold again..
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  • #1,338
  • Apr 20, 2011 5:41am Apr 20, 2011 5:41am
Yes indeed. Yesterday's trades were very kind and got a nice boost this morning. I'm hoping to trail with the H4 30sma initially. Looks like we are ignoring the scruffy H4 head and shoulders (aka weekly pin) as we broke through resistance this morning. How will you trail Revstar?
Gone to a better place
  • #1,339
  • Apr 20, 2011 6:02am Apr 20, 2011 6:02am
Hey smikester
Moved stop up to .88450 I estimated this as the next point of s & r, would like a pull back .88200 to re-enter. however i am trying to be more picky about my trades, so may just sit out until a meaningfull pull back Or breakout has played out...

nice thread by the way
RS
  • #1,340
  • Apr 20, 2011 12:03pm Apr 20, 2011 12:03pm
Looks like price is bouncing off weekly trend line area nicely. Still big resistance at .89.
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Today's close will be crucial imo. Broke upwards out of that down flag, caught it for +40 pips. It seems like it wont break the .8852 level. I moved my stops to BE, fully expect to get stopped out and this thing to go down
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