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EUR/GBP - What a great pair to trade!

  • #1,841
  • Nov 6, 2012 4:54am Nov 6, 2012 4:54am
Quoting sahamdarjoz
Buy EUR/GBP at 0.8010 SL: 0.79 TP: 0.8130
RD in 1H and uptrend in 4H with a pullback at 78%.
Yes, I still like longs. This daily candle looks like it could confirm. Let's see how it closes. By the way, on your website the signal service costs more (pro rata) for 6 months than 3 months. Odd?
Gone to a better place
  • #1,842
  • Nov 6, 2012 7:19am Nov 6, 2012 7:19am
Quoting smikester
Yes, I still like longs. This daily candle looks like it could confirm. Let's see how it closes. By the way, on your website the signal service costs more (pro rata) for 6 months than 3 months. Odd?
What's odd about it?
Making pips is easy, holding 'em is hard - Pipsopolis
  • #1,843
  • Nov 6, 2012 8:59am Nov 6, 2012 8:59am
Quoting sahamdarjoz
What's odd about it?
Well, it's $50.00 for 1 month, $40.00 a month for three months, or $41.66 a month for 6 months.

Maybe it's just me that's odd...
Gone to a better place
  • #1,844
  • Nov 6, 2012 12:34pm Nov 6, 2012 12:34pm
Hey Mike,

Are you going into tonight's Election results exposed or flat ?..

Cheers Ja.
Memories caught in time but never forgotten
  • #1,845
  • Nov 6, 2012 1:40pm Nov 6, 2012 1:40pm
Quoting smikester
Well, it's $50.00 for 1 month, $40.00 a month for three months, or $41.66 a month for 6 months.

Maybe it's just me that's odd...
Thanks for mentioning. I am giving it a lift and will look into it as well
Making pips is easy, holding 'em is hard - Pipsopolis
  • #1,846
  • Nov 6, 2012 3:09pm Nov 6, 2012 3:09pm
Quoting j4d
Hey Mike,

Are you going into tonight's Election results exposed or flat ?..

Cheers Ja.
Pretty much flat. To me it looks like being a ninth week of Euro range. The only plus is that it looks like a bull flag.
Gone to a better place
  • #1,847
  • Nov 6, 2012 3:39pm Nov 6, 2012 3:39pm
Quoting smikester
Pretty much flat. To me it looks like being a ninth week of Euro range. The only plus is that it looks like a bull flag.
Hmm..A sure sign of uncertainty...

Its an interesting one with the elections....I'm flat but know traders who are exposed. Just wondered what the general consensus was..
Memories caught in time but never forgotten
  • #1,848
  • Nov 7, 2012 5:40am Nov 7, 2012 5:40am
Quoting smikester
Pretty much flat. To me it looks like being a ninth week of Euro range. The only plus is that it looks like a bull flag.
That's the only reason I am bearing with this range market. Frustrating, eh?
Making pips is easy, holding 'em is hard - Pipsopolis
  • #1,849
  • Nov 8, 2012 4:53am Nov 8, 2012 4:53am
Quoting sahamdarjoz
That's the only reason I am bearing with this range market. Frustrating, eh?
Well, it looks like the Eur/Usd has broken downwards and now it's a race to the bottom with Gbp/Usd.

For Eur/Gbp, if this weekly complex head and shoulders is to play out, it had better turn soon. I see some support at this level (.7980) and I'll probably set some longs if this day closes well.
Gone to a better place
  • #1,850
  • Nov 8, 2012 10:35am Nov 8, 2012 10:35am
Quoting smikester
Well, it looks like the Eur/Usd has broken downwards and now it's a race to the bottom with Gbp/Usd.

For Eur/Gbp, if this weekly complex head and shoulders is to play out, it had better turn soon. I see some support at this level (.7980) and I'll probably set some longs if this day closes well.
On daily of EURUSD it is a S to R now @ 1.2740 and an RD in 4H. Pretty confident about the bulls now, even may go long on the fibre. And guess 0.8 handle would support the price for now.
Making pips is easy, holding 'em is hard - Pipsopolis
  • #1,851
  • Nov 9, 2012 5:40am Nov 9, 2012 5:40am
I'm always too quick to jump into reversals and the market likes to burn those who do but if I may throw out a couple of ideas. I don't see Eur/Usd as bullish at any point soon, at least not on the larger time frames. I may be and probably am wrong, but I am very bearish on cable. In the larger scheme of things, cable came out of 2008 very badly damaged. Although the Euro got a mauling, it was nowhere near as bad as the Pound.

Attached Image


The above chart is Cable (red line) relative to the Euro, monthly. At first, I thought of arbitrage but of course there is no reason why Cable should become stronger relative to the Euro from a technical point of view. Then I looked at this:

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


This monthly chart has the fib range boxed out at 15 months and then 15 month boxes added. It's a crude 15 month chart. The inside "bars" are winding up pretty tight now and the drop around 2008 was 15 bearish bars engulfing about 80 previous bars.

Interesting?
Gone to a better place
  • #1,852
  • Nov 9, 2012 6:12am Nov 9, 2012 6:12am
Quoting smikester
I'm always too quick to jump into reversals and the market likes to burn those who do but if I may throw out a couple of ideas. I don't see Eur/Usd as bullish at any point soon, at least not on the larger time frames. I may be and probably am wrong, but I am very bearish on cable. In the larger scheme of things, cable came out of 2008 very badly damaged. Although the Euro got a mauling, it was nowhere near as bad as the Pound.

Attachment

The above chart is Cable (red line) relative to the Euro, monthly. At first, I thought of arbitrage...

yes very interesting indeed
Learning Requires Failure
  • #1,853
  • Nov 9, 2012 7:56am Nov 9, 2012 7:56am
Quoting smikester
I'm always too quick to jump into reversals and the market likes to burn those who do but if I may throw out a couple of ideas. I don't see Eur/Usd as bullish at any point soon, at least not on the larger time frames. I may be and probably am wrong, but I am very bearish on cable. In the larger scheme of things, cable came out of 2008 very badly damaged. Although the Euro got a mauling, it was nowhere near as bad as the Pound.

Attachment

The above chart is Cable (red line) relative to the Euro, monthly. At first, I thought of arbitrage...
Very Mike....I think this may squeeze even tighter ?.

I have noticed the Average daily range drop in the Majors since 2008. I think it will drop further with the current lack of confidence.

http://www.bloomberg.com/news/2012-1...us-limits.html

I Think we have a serious liquidity problem, though 08 was a seriously volatile year it just shows theres no confidance in the markets...
I think we might have a problem with High Frequency trading squeezing the ranges in the coming years too ?. I think manual/discretionary traders will have to move right out to the larger time frames to get any uniformity ?.

The times of high volume, low volatile trending markets may be a long, long way away yet........unfortunately.
Where to go for the pound ?, I agree with you. It doesn't look to good from where I'm sitting either.
Memories caught in time but never forgotten
  • #1,854
  • Nov 9, 2012 8:47am Nov 9, 2012 8:47am
Quoting j4d
Very Mike....I think this may squeeze even tighter ?.

I have noticed the Average daily range drop in the Majors since 2008. I think it will drop further with the current lack of confidence.

http://www.bloomberg.com/news/2012-1...us-limits.html

I Think we have a serious liquidity problem, though 08 was a seriously volatile year it just shows theres no confidance in the markets...
I think we might have a problem with High Frequency trading squeezing the ranges in the coming years...
Thanks for the link. I have been reading similar articles recently and it is true about ATR's across the board. It's lack of confidence and I would guess a calm before the storm.

High frequency trading is theft as far as I can tell and just another fraudulent aspect of the corrupt banking system we have been saddled with. I think trading has to do with buying and selling at an agreed price, not trying to cheat filching money out of the market.

Call me old fashioned.
Gone to a better place
  • #1,855
  • Nov 9, 2012 9:11am Nov 9, 2012 9:11am
Quoting smikester
Thanks for the link. I have been reading similar articles recently and it is true about ATR's across the board. It's lack of confidence and I would guess a calm before the storm.

High frequency trading is theft as far as I can tell and just another fraudulent aspect of the corrupt banking system we have been saddled with. I think trading has to do with buying and selling at an agreed price, not trying to cheat filching money out of the market.

Call me old fashioned.
I agree with old fashioned, I do think HFT will become more dominant in the years to come, Unless they bring in new stricter regulations to combat.... Automated trading is on the up, it dominates the successful accounts in the analytical websites.....Perhaps its the evolution
of intraday trading ?. Maybe ?..

the likes of you and me will just become old dinosaurs...
Memories caught in time but never forgotten
  • #1,856
  • Nov 11, 2012 11:14am Nov 11, 2012 11:14am
There's a lot of O/F above.....But.... I think there might be a bit below too.....A good time for a bounce ?
Attached Image (click to enlarge)
Click to Enlarge Name: eg.gif Size: 35 KB
Memories caught in time but never forgotten
  • #1,857
  • Nov 14, 2012 2:39pm Nov 14, 2012 2:39pm
- Euro/Pound H1.

- Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: eg h1.png Size: 25 KB
  • #1,858
  • Nov 16, 2012 4:26am Nov 16, 2012 4:26am
Consolidation ?........Long term though with bearish undertones ??. If the next daily swing low closes below 7957 I'm looking for shorts.
Attached Image (click to enlarge)
Click to Enlarge Name: eg.gif Size: 36 KB
Memories caught in time but never forgotten
  • #1,859
  • Nov 17, 2012 3:47pm Nov 17, 2012 3:47pm
Multi Levels for EURGBP in H1 time frime

 GREEN Levels Colour (with Prices) is SMALL Levels move.
PURPLE Levels Colour (with Prices) is MEDIUM Levels move.
BLUE Levels Colour (with Prices) is BIG Levels move.

Broken Lines Colour (without Prices) is IMPORTANT Levels
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-11-17_Multi Levels for EURGBD in H1 Chart.png Size: 21 KB
Always looking the GREAT, never left GOOD Point...
  • #1,860
  • Nov 17, 2012 3:48pm Nov 17, 2012 3:48pm
Quoting Tsar
Multi Levels for EURGBP in H1 time frime

 GREEN Levels Colour (with Prices) is SMALL Levels move.
PURPLE Levels Colour (with Prices) is MEDIUM Levels move.
BLUE Levels Colour (with Prices) is BIG Levels move.[b]

Broken Lines...
I am quite bullish about the Pair.
the GBP is quite in the Bearish side.
Classical chart patterns of currencies from 15+ Year Pro Trader
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