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EUR/GBP - What a great pair to trade!

  • #1,741
  • Aug 9, 2012 11:17pm Aug 9, 2012 11:17pm
  •  fivex
  • | Joined Sep 2011 | Status: This is the title that appears | 247 Posts
stoped out at just above 0.790 after moving my s/l.
my bad.
looks like a great run for those who gave it some time/room.
  • #1,742
  • Aug 10, 2012 6:29am Aug 10, 2012 6:29am
If there's no re-test of the 79-50 area, I will be looking to short, if there is swing order in the 4hr....
Attached Image(s) (click to enlarge)
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Memories caught in time but never forgotten
  • #1,743
  • Aug 10, 2012 6:47am Aug 10, 2012 6:47am
I see pound being quite resilient in todays market versus the euro and the aussie. The trend down in euro pound might just pick up speed.
  • #1,744
  • Aug 12, 2012 4:36am Aug 12, 2012 4:36am
Quoting ishykiel
I see pound being quite resilient in todays market versus the euro and the aussie. The trend down in euro pound might just pick up speed.
WE'LL SEE
New voice message: Why are you calling me? If I need you, I'll call you!
  • #1,745
  • Aug 12, 2012 6:42am Aug 12, 2012 6:42am
Hi all, any comments?

Mistake! H1 CHART!
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  • #1,746
  • Aug 22, 2012 2:28am Aug 22, 2012 2:28am
- E/G M5
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  • #1,747
  • Aug 22, 2012 4:09am Aug 22, 2012 4:09am
Quoting Ziko9o8
- E/G M5
It looks very dark. Care to explain?
Gone to a better place
  • #1,748
  • Edited 4:24am Aug 22, 2012 4:23am | Edited 4:24am
Quoting smikester
It looks very dark. Care to explain?
- I'm interested in buying lows and selling highs, I can't chase markets, I've magnified the picture for you after taking 20 pips.

- Btw you can see my E/U trade in Tsar thread, it was perfect entry (MR. Market doesn't move against me even one pip), not like this trade, the market moves against me 6 pips.

-TC.
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  • #1,749
  • Aug 24, 2012 2:59am Aug 24, 2012 2:59am
- E/G M15
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  • #1,750
  • Aug 27, 2012 1:49am Aug 27, 2012 1:49am
Attached Image (click to enlarge)
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When the price bounced at .7750 it looked like a retest of .8000 before continuing the major down trend. in fact the price only made it to .7960 before retracing to 61.8%. The rejection there indicates to me that we are having another go at .8000 before anywhere else.

Interestingly the above scenario forms an "Adam and Eve bottom" but I am thinking .8000 might prove too strong for it to play out.

Enter the possibility of a few weeks or months of consolidation like it did in this area in 2008. It might even wait for the 200dma (the blue line) to catch up before it makes its move in a mirror image of the 2008 consolidation.

Just a few thoughts.
Gone to a better place
  • #1,751
  • Aug 28, 2012 1:58pm Aug 28, 2012 1:58pm
Quoting smikester
Attachment

When the price bounced at .7750 it looked like a retest of .8000 before continuing the major down trend. in fact the price only made it to .7960 before retracing to 61.8%. The rejection there indicates to me that we are having another go at .8000 before anywhere else.

Interestingly the above scenario forms an "Adam and Eve bottom" but I am thinking .8000 might prove too strong for it to play out.

Enter the possibility of a few weeks or months of consolidation like it did in this area in 2008. It might even wait for...
I agree.....
Memories caught in time but never forgotten
  • #1,752
  • Aug 30, 2012 6:00am Aug 30, 2012 6:00am
Looks like some support here at 7905. Let's see what happens.
  • #1,753
  • Aug 30, 2012 6:12am Aug 30, 2012 6:12am
Quoting Marlin Man
Looks like some support here at 7905. Let's see what happens.
Looks good to me.
Gone to a better place
  • #1,754
  • Aug 30, 2012 6:45am Aug 30, 2012 6:45am
Does anyone see a rough 'h&s' pattern on the 4h?

Olu
If you think you can or cannot do it you are correct
  • #1,755
  • Aug 30, 2012 7:09am Aug 30, 2012 7:09am
I'm thinking it is going to break through this area downward but we'll see. GL
  • #1,756
  • Aug 30, 2012 7:17am Aug 30, 2012 7:17am
One thing about this pair is you get plenty of time to change your mind usually.

Yesterday's candle was a bit bearish and if we close the week below here it will be a bearish weekly candle.
Gone to a better place
  • #1,757
  • Aug 30, 2012 11:12am Aug 30, 2012 11:12am
Maybe a sizeable correction...consolidation.... before the next leg down ?
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Memories caught in time but never forgotten
  • #1,758
  • Sep 4, 2012 4:16am Sep 4, 2012 4:16am
IMAO - we are in downtrend, no doubt; fundamentally the pair looks bearish too, if ECB starts to buy spanish and italian bonds, we could go more to the south, on the other hand buying english gilts from BoE is not on the menu, last week there is been a nice hedging activity on british pound (COT report)..in the short term closing below the 0,79 level would be the bearish signal, daily chart with TA attached.
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gonnwall
  • #1,759
  • Sep 4, 2012 3:23pm Sep 4, 2012 3:23pm
Quoting vas69
IMAO - we are in downtrend, no doubt; fundamentally the pair looks bearish too, if ECB starts to buy spanish and italian bonds, we could go more to the south, on the other hand buying english gilts from BoE is not on the menu, last week there is been a nice hedging activity on british pound (COT report)..in the short term closing below the 0,79 level would be the bearish signal, daily chart with TA attached.
Thanks for the chart. What I want to know is why we revisited the May low?
Gone to a better place
  • #1,760
  • Sep 5, 2012 10:06am Sep 5, 2012 10:06am
Last months candle closed in the top 25% of its range and although small this is still a bullish sign, I also think the 7844 resistance coupled with a decent trend line is enough for some heavy orders parked around this area, I still favour a correction back to 80. my view though in this pair is Euro weakness.

What do you think Mike ?
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