EUR/GBP - What a great pair to trade!

HD, Breaking internal trend. Stop below 0, TP: partial exit @ 100, 127 and 161%

http://www.forexfactory.com/attachme...9&d=1353308926

Daily Chart

Short from 0.8030

Previous candle bearish engulfing.
I've waited for price to retrace 50% of previous candle and entered short.

Target open

It is not bearish engulfing pattern. In BEP, the open should be higher than previous high and close lower than previous low.

Well I'll tell you what I think, in the spirit of sharing and in no way a trade call as I might be utterly wrong, and bearing in mind I look at all the time frames. I wouldn't short into .8000 unless it was just for a few pips. I don't think we closed convincingly below .8000 especially looking at the daily bars on 12th and 13th.

Here we have a bearish daily bar at the end of a week on 16th which is testing support at .8020 (and .8000 is the 61.8 retrace of the daily swing high). So we may go back to .8000.

Personally I would never short a day that was above the London daily open (London midnight), unless, possibly, it was the New York session, and certainly not if the price were above the London 8am open, even though the price will often come back and test that level.

Now watch it make a monkey out of me.

Were in an interesting place at the moment.....I suppose it comes down to the decision on Greece ( again and again.... )
Normal service then... riding the waves of uncertainty, event risk yo yoing..

it just cant break trough the 0.8085, it keeps hiting the top but can't break tough

HD, uptrend and reversing from 50% fib. SL= 0.80 TP= 0.81

Do not remain attached to the lines.
The lines are your fishnet only.

Retest of an important level here. The 2010 low.

Highly reliable bearish evening star reversal pattern on monthly R1 pivot and weekly price resistance level.

My thoughts...

Not sure if you are looking at a Sunday candle from your broker there mate? I agree we are at important resistance but the predominance of higher lows makes me bullish this pair longer term. Let's see. If we get a daily close above .8170 this will be very bullish longer term. Otherwise I would leave shorts alone because we are "bumping along the ceiling".

I am not sure if it is a valid break downwards.I am selling this pair on basis of monthly chart .

May I ask what it is about the monthly which makes you want to sell? Could you post a chart?

No problem,here you go.

Thanks. Nothing wrong with that sentiment but I would have liked the retest in June to have rejected the level properly, or some consolidation, instead of the daily uptrend bouncing off it again in September, October and December. I'm neutral at the moment. All the best.

It looks like the pair has bottomed on the Monthly chart and is rising back through the down-channel. Look for a stall or a reversal near the red-line or to the middle Bollinger Band (28, 2, 0...), which also corresponds to a long-term Fibonacci level @ ~0.83636.
If the monthly candes are strong moving through the resistance level, expect the pair to complete the rise through the channel to about 0.87.

Note that the DoubleLine Indicator and the SuperTrend Indicator have both turned white on the Weekly chart, meaning that a firm uptrend is now in place. Notice also that when the two indicators touch or cross, very strong moves follow quickly.
The CCI (white line in bottom window...) is rising strongly, while the histogram in the FreeScalping Indicator shows a strongly declining downtrend momentum.
The pair is trading higher.

Fundamentally speaking, the UK economy is weakening while the Eurozone will come around at the beginning of the year and finally begin to deal with their banking problems. This will add to Euro strength and Sterling weakness.

h1 and h4 suggesting downward

Mayyyybbeeee...
Bert, the Weekly Chart shows a distinct break above a down channel.

Now, this is not to say that the pair shouldn't retrace to reload a bit. I have it lower to the Daily Pivot at ~0.8140 before it continues higher. Watch for the breakout of your H4 trend as a fractal representation of the prior break above the Weekly channel.

i just need 40's