EUR/GBP - What a great pair to trade!

Good charts and analysis. Looks like we need support at .8830 or we have a large head and shoulders formation, or at least a drop to the .8740 level.

Well i took the today's Close above the left shoulder as bullish, not closing longs. I'm gonna try and ride up to the .8911 level, hopefully we will see a break of that level, which is weekly resistance. If it breaks that I'm looking for .9100 level. Other wise fail to break .891 will be bearish. I'm completely ignoring the red pin on the weekly. My stops are tiiiigghhtttttt right noww, i think this is a ballsy long at this point.

My view of last week's pin is that it is a bounce off .8900, last October highs. In a strong uptrend, having broken the upper trendline/s, it is likely to be retested.

If this level goes, .8830, watch out.

Got stopped out for a small profit, it might test the .8750 level, i'll look to go short around there if it breaks the neck line

How can u long when it just formed a double top? and a bearish candle on weekly? O_O its not a break out just a new trendline you draw a new trendline on the new formed high candle many people make this mistake u can see this at EURUSD, it looks asthough its a breakout but its just u need to adjust your trendline.. well yea fundamentally EUR is going up but EURUSD has been boosting up so fast, i think there be retracement. i took a short.

edit: and also its breaking support lines in smaller time frame not to mention the risk reward is higher taking a short u can take a long but i think u going to get stopped out alot alot of times. if break 0.8715 down is confirmed

Hey smikester,
Managed to get in again, not sure for how long though... light volume with bank holiday..
all the best
RS

Hope you got out of your longs. We just retested .8830, an important level, and now we go down. I would be very surprised if we see it above there for a long time.

Looking for a break of one of these levels for confirmation. Bias short

EUR/GBP-D

Anyone scalping this pair at the moment?

Gotta love the fluid moves this pair makes compared to the more choppy stuff you see on USDJPY or EURUSD at times (just for e.g.).

You are right. But at the moment I'm waiting for the daily action which for me is choppy, to sort itself out.

As you can see there is an up trendline for EURGBP. I bought it and if little trend make me confident I will add my volume .

I thought Uptrend for EURGBP have already begun. I set some limit trades to catch the price for going higher.

I go long here... .8900 and a break of the daily high. FTA .8925, hehe... Oh well sometimes you just have to risk it.

EUR/GBP-h4

Can someone teach when to take profit? I shorted this on Friday morning (EST) and closed the trade just before lunch, making a very nice profit, but only to see it go down further...then I saw the news about Greece wanting to bail out of the Euro. It is now sitting at about 50 pips down from when I closed my short and I can see it going down further on Monday.

I am greedy!

That's a big subject, but why not take partial profit and move your stop to break even? Then you have a risk free trade.

Thats what I do just frustrated to see my trades gain more after I close

In the long run, it is more important to protect your investment (account) than to gain more at the moment. Deflect from the rule - and you'll get burnt, sooner or later.