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EUR/GBP - What a great pair to trade!

  • #1,781
  • Sep 26, 2012 4:20am Sep 26, 2012 4:20am
I am short eurgbp. What do you guys think? You reckon I will be safe with a stop at 0.8000? I am looking for a much lower eurgbp.. below 0.7900
  • #1,782
  • Sep 26, 2012 6:49am Sep 26, 2012 6:49am
Well, we did have bottoming out patterns on Eur/Gbp H1 and D1 but looks like rioting Greeks and Spaniards may help your trade. If the daily close were below .7935 I may consider short. We are sitting on major support here and I personally would not trade against it.
Gone to a better place
  • #1,783
  • Oct 1, 2012 3:06am Oct 1, 2012 3:06am
Chart:

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp121001w1.gif Size: 27 KB
Gone to a better place
  • #1,784
  • Oct 1, 2012 3:26am Oct 1, 2012 3:26am
Bullish IMO at least ST
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbpoct1.jpg Size: 360 KB
  • #1,785
  • Oct 1, 2012 8:18am Oct 1, 2012 8:18am
Quoting mfoste1
Bullish IMO at least ST
If this level holds it's a very bullish sign as a complex reversal pattern of S/R:

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp121001h1.gif Size: 25 KB


This is the hourly. Similar complex pattern in earlier stage on daily...
Gone to a better place
  • #1,786
  • Oct 1, 2012 4:25pm Oct 1, 2012 4:25pm
Quoting smikester
If this level holds it's a very bullish sign as a complex reversal pattern of S/R:

Attachment

This is the hourly. Similar complex pattern in earlier stage on daily...
- My View:
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Daily fibo fan.png Size: 29 KB
Click to Enlarge Name: Hourly fibo fan.png Size: 23 KB
Click to Enlarge Name: supply zone.png Size: 28 KB
Click to Enlarge Name: Intrady setups.png Size: 51 KB
Click to Enlarge Name: 1.png Size: 52 KB
  • #1,787
  • Oct 2, 2012 9:02am Oct 2, 2012 9:02am
- Sold & Locked E/G M1:
Attached Image (click to enlarge)
Click to Enlarge Name: EG m1.png Size: 14 KB
  • #1,788
  • Oct 2, 2012 9:16am Oct 2, 2012 9:16am
Great charts Ziko, thanks. Are there any resources on the web to study Fibonacci fans?

Nice short but I thought you'd be looking for buy opportunities.
Going to buy here?(.8000)
Gone to a better place
  • #1,789
  • Oct 2, 2012 9:20am Oct 2, 2012 9:20am
Quoting smikester
Great charts Ziko, thanks. Are there any resources on the web to study Fibonacci fans?

Nice short but I thought you'd be looking for buy opportunities.
Going to buy here?(.8000)
- Come on man, don't take my money, I only need 30 to 40 pips.

- Wait till I get out, then it's all yours .

- I've studied about fibo fan from: http://ta.mql4.com/linestudies/fibonacci_fan

- GL.
  • #1,790
  • Edited 10:58am Oct 2, 2012 9:24am | Edited 10:58am
Quoting smikester
Great charts Ziko, thanks. Are there any resources on the web to study Fibonacci fans?

Nice short but I thought you'd be looking for buy opportunities.
Going to buy here?(.8000)
- Yes, I am looking for long(when it touches 61.8 Fibo Fan). Till that I'm looking for shorts.

- Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: eg daily.png Size: 29 KB
  • #1,791
  • Oct 3, 2012 12:57am Oct 3, 2012 12:57am
I do use Fibonacci retracements and expansions to some extent, they can't be ignored. The problem I have is that there are so many "coincidental fits" which blur the picture and often failures when one would expect success, so definitely not my main tool.

Having said that, I like the confluence the 38.2% fan makes using the penultimate low of the last daily swing low:

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp121003d1.gif Size: 30 KB


That is too cute. I'm going to have to do some studying.
Gone to a better place
  • #1,792
  • Oct 4, 2012 8:39am Oct 4, 2012 8:39am
.8060 - .8066 important level for this pair. I and 12 other traders and 17 fund managers will be ditching some of our longs here but it will be only a staging post. I reckon this rally has legs.
Gone to a better place
  • #1,793
  • Oct 4, 2012 9:19am Oct 4, 2012 9:19am
Quoting smikester
.8060 - .8066 important level for this pair. I and 12 other traders and 17 fund managers will be ditching some of our longs here but it will be only a staging post. I reckon this rally has legs.
I agree.....The Euro Squeeze continues..

The only thing is we know its just a waiting game before Spain formerly ask for a bailout isn't it ? and the ECB change the interest rates ( its just the timing ? ) I just don't know....To me it feels very uncomfortable to be long ?

If we look at the monthly chart I reckon there's a heap of orders sitting at 8180 to 8250...

But then we are trading in mad times..
Memories caught in time but never forgotten
  • #1,794
  • Oct 8, 2012 5:31am Oct 8, 2012 5:31am
Another chart:

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp121008d1.gif Size: 16 KB


The horizontal line is the price, now.
Gone to a better place
  • #1,795
  • Oct 9, 2012 5:21am Oct 9, 2012 5:21am
Interesting chart and overlay. The chart is Chf/Gbp and the overlay is Eur/Gbp.

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp121009chfgbp.JPG Size: 168 KB


This is the monthly.
Gone to a better place
  • #1,796
  • Oct 9, 2012 6:21am Oct 9, 2012 6:21am
Here is another view of the monthly:

Attached Image (click to enlarge)
Click to Enlarge Name: mystery chart.JPG Size: 53 KB
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  • #1,797
  • Oct 9, 2012 8:42am Oct 9, 2012 8:42am
Candles just went under the Kumo cloud in h1 charts
Make pips, not war!
  • #1,798
  • Oct 9, 2012 9:42am Oct 9, 2012 9:42am
- And finally the bastards stop buying, so we can sell.
Attached Image (click to enlarge)
Click to Enlarge Name: euro pound M15.png Size: 17 KB
  • #1,799
  • Oct 10, 2012 6:00am Oct 10, 2012 6:00am
Still showing stubborn support...
Make pips, not war!
  • #1,800
  • Oct 10, 2012 8:44am Oct 10, 2012 8:44am
.8030 should be a number known by the Eur/Gbp club.

Fibonacci confluence here as well:

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp121010h1.gif Size: 24 KB
Gone to a better place
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