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EUR/GBP - What a great pair to trade!

  • #1,521
  • Mar 4, 2012 4:40pm Mar 4, 2012 4:40pm
The pair is clearly on a downward path for a few months now, due to the problems with the Euro - particularly at PIIGS. Recently it tested the monthly resistance at around 8490 but had come down quickly. It seems that the powers that be in the UK were defending the rate of 8300 (£1 = Euro 1.20) in recent times.

Assuming this is confirmed by price action, I will be buying in the region of 8275 - 8330 with average targets of 100 pips. S/L will be 30 pips. On the flip side, I plan to short from 8420 - 8460. Similar targets and S/Ls as longs.

What others think?

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBPDaily.png Size: 56 KB
  • #1,522
  • Mar 4, 2012 8:24pm Mar 4, 2012 8:24pm
  •  duca
  • | Joined Dec 2011 | Status: Investing is simple, but not easy | 409 Posts
oversold! = buy
-


no look my buy on this chart, is demo for my test
Attached Image (click to enlarge)
Click to Enlarge Name: a.png Size: 33 KB
give 1 and get 100
  • #1,523
  • Mar 4, 2012 8:28pm Mar 4, 2012 8:28pm
50% retrace of the large downmove takes us up right to resistance at .84, not to mention TDI turned up and we have what looks like a nice formed bottom.

See attached chart. (don't mind the fib being upside down, 50% is what I'm looking at)

Attached Image (click to enlarge)
Click to Enlarge Name: 2012-03-04_2125.png Size: 52 KB
  • #1,524
  • Mar 5, 2012 7:46am Mar 5, 2012 7:46am
  •  duca
  • | Joined Dec 2011 | Status: Investing is simple, but not easy | 409 Posts
news rates BOE
http://www.forexlive.com/
give 1 and get 100
  • #1,525
  • Mar 6, 2012 6:07pm Mar 6, 2012 6:07pm
  •  duca
  • | Joined Dec 2011 | Status: Investing is simple, but not easy | 409 Posts
give 1 and get 100
  • #1,526
  • Mar 6, 2012 11:05pm Mar 6, 2012 11:05pm
EUR/GBP


Daily Pivots: (S1) 0.8317; (P) 0.8335; (R1) 0.8348
very nice, good price..!
  • #1,527
  • Mar 7, 2012 12:46am Mar 7, 2012 12:46am
With 0.8383 minor resistance intact, further decline is expected in EUR/GBP is near term. As noted before, corrective rebound from 0.8221 has completed with three waves up to 0.8505 already. Further fall should be seen to 0.8277 support.
very nice, good price..!
  • #1,528
  • Mar 7, 2012 5:53am Mar 7, 2012 5:53am
Quoting Jose Louis
With 0.8383 minor resistance intact, further decline is expected in EUR/GBP is near term. As noted before, corrective rebound from 0.8221 has completed with three waves up to 0.8505 already. Further fall should be seen to 0.8277 support.
This was from Action Forex wasn't it?

http://www.actionforex.com/action-in...urgbp-outlook/

If you copy stuff from websites you should really give the author credit.
Gone to a better place
  • #1,529
  • Mar 8, 2012 6:57pm Mar 8, 2012 6:57pm
  •  duca
  • | Joined Dec 2011 | Status: Investing is simple, but not easy | 409 Posts
Quoting Jose Louis
EUR/GBP


Daily Pivots: (S1) 0.8317; (P) 0.8335; (R1) 0.8348

my pivots fibo are different
-

expect short
give 1 and get 100
  • #1,530
  • Mar 9, 2012 6:20am Mar 9, 2012 6:20am
  •  duca
  • | Joined Dec 2011 | Status: Investing is simple, but not easy | 409 Posts
trading range...
Attached Image (click to enlarge)
Click to Enlarge Name: a.png Size: 29 KB
give 1 and get 100
  • #1,531
  • Mar 12, 2012 10:42am Mar 12, 2012 10:42am
Took a bit, but finally hit

Quoting forextine
50% retrace of the large downmove takes us up right to resistance at .84, not to mention TDI turned up and we have what looks like a nice formed bottom.

See attached chart. (don't mind the fib being upside down, 50% is what I'm looking at)

Attachment
  • #1,532
  • Mar 12, 2012 11:09am Mar 12, 2012 11:09am
  •  duca
  • | Joined Dec 2011 | Status: Investing is simple, but not easy | 409 Posts
good indicator for scalping on €/gbp (i think)

own entry
I enter only with spikes outside Bollinger

try
Attached Image (click to enlarge)
Click to Enlarge Name: a.png Size: 32 KB
Attached File(s)
File Type: mq4 super_signals_channel.mq4   4 KB | 390 downloads
give 1 and get 100
  • #1,533
  • Mar 12, 2012 11:10am Mar 12, 2012 11:10am
Quoting duca
good indicator for scalping on €/gbp (i think)

try

I'll load it up later when I'm at home. Thanks! Got any screenshots of it?
  • #1,534
  • Mar 13, 2012 6:05am Mar 13, 2012 6:05am
  •  duca
  • | Joined Dec 2011 | Status: Investing is simple, but not easy | 409 Posts
Attached Image (click to enlarge)
Click to Enlarge Name: a.png Size: 28 KB
give 1 and get 100
  • #1,535
  • Mar 13, 2012 3:36pm Mar 13, 2012 3:36pm
Quoting duca
good indicator for scalping on €/gbp (i think)

own entry
I enter only with spikes outside Bollinger

try
Hi Duca,
Thanks for the indicator. How do you use this indicator ? If you see green dot you long if red short, correct ?
  • #1,536
  • Mar 13, 2012 6:03pm Mar 13, 2012 6:03pm
I know the day is not quite finished but:

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp120312d1.gif Size: 33 KB


Bearish candle engulfing how many daily candles?

Looks like another run at .8300 and I wonder if it will give way this time?
Gone to a better place
  • #1,537
  • Mar 14, 2012 12:54pm Mar 14, 2012 12:54pm
Hi smikester,

I think you are probably right. There is a trend line break and a weekly second support at around 8283.

I am glad that the trading plan I posted previously on 4 March came through.

http://www.forexfactory.com/showthre...69#post5441369

I love this pair.

Wishing you green pips.
  • #1,538
  • Mar 14, 2012 1:10pm Mar 14, 2012 1:10pm
Quoting Rasi
Hi smikester,

I think you are probably right. There is a trend line break and a weekly second support at around 8283.

I am glad that the trading plan I posted previously on 4 March came through.

http://www.forexfactory.com/showthre...69#post5441369

I love this pair.

Wishing you green pips.
Thanks for the reminder. I did see your chart and regret not making a comment as it's good and clear and I wouldn't add anything to your analysis. I have to admit to being puzzled by this range and your theory of support at 1.2 makes sense. I don't use pivots as, added to the other stuff I use, they confuse me.

I have had some good trades in this range but I would like something to stick. Keep me posted and thanks again.
Gone to a better place
  • #1,539
  • Mar 15, 2012 4:38pm Mar 15, 2012 4:38pm
  •  duca
  • | Joined Dec 2011 | Status: Investing is simple, but not easy | 409 Posts
Quoting okanemici
Hi Duca,
Thanks for the indicator. How do you use this indicator ? If you see green dot you long if red short, correct ?

only if the price is within Bollinger spike out-
timeframe of 15 '
TP 5-10 pips
give 1 and get 100
  • #1,540
  • Mar 15, 2012 5:04pm Mar 15, 2012 5:04pm
Finally found the thread that deals with EG, definitely a favorite pair for me!
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