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EUR/GBP - What a great pair to trade!

  • #1,901
  • Jan 11, 2013 7:57pm Jan 11, 2013 7:57pm
Quoting Fx-gtg
Small short on weekend at 82.80 . See where it goes
Good luck with that

As you can see, this pair tends to gyrate up and down, week to week. The double yellow lines are the opening 6 hours range and they can help to establish a trend bias for the week, with occasional fake out, or zig zag week, of course.

All depends on what the Euro and GBP decide to do in the end, EUR sure over powered this week, and price is extended.

Back on Monday
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It takes a lot for me to IGNORE you, but you can try.
  • #1,902
  • Jan 12, 2013 4:38pm Jan 12, 2013 4:38pm
  •  duca
  • | Joined Dec 2011 | Status: Investing is simple, but not easy | 409 Posts
possible drop €-gbp on the next week fo me opinion
give 1 and get 100
  • #1,903
  • Jan 12, 2013 4:54pm Jan 12, 2013 4:54pm
Quoting duca
possible drop €-gbp on the next week fo me opinion
I agree with you Duca but there is still more bullishness in this pair afterwards imho

Olu
If you think you can or cannot do it you are correct
  • #1,904
  • Jan 14, 2013 1:23pm Jan 14, 2013 1:23pm
I think .8283 level will act as a good support (if not, stronger .8220 support is waiting)

Depending on the momentum, it could take a break @ .8355 which is my 1st TP

The next level I look for is between .8395 & .8423, maybe a good zone to buy on weakness

Finally, I'm hoping we approach the zone between .8489 & .8530 (my final TP for this bull move, like Smikester)
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  • #1,905
  • Jan 14, 2013 3:19pm Jan 14, 2013 3:19pm
It's good to see when simple tools like Fib levels, trendlines and sup/res levels converge
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  • #1,906
  • Jan 15, 2013 1:01pm Jan 15, 2013 1:01pm
back well below 0.83
closed all
  • #1,907
  • Jan 15, 2013 5:36pm Jan 15, 2013 5:36pm
Quoting Fx-gtg
back well below 0.83
closed all
Still in short position...
Whatever is happening right now has happened before and will happen again.
  • #1,908
  • Jan 16, 2013 2:44am Jan 16, 2013 2:44am
Well we broke .8286 which was the 2011 low and then .8300, where I closed my longs. It remains to be seen which level will provide support. A daily close above .8282 and longs are back in play for me.
Gone to a better place
  • #1,909
  • Jan 16, 2013 10:34am Jan 16, 2013 10:34am
what's going on with EG? we're slowing but surely getting very close to previous high.
Whatever is happening right now has happened before and will happen again.
  • #1,910
  • Jan 16, 2013 9:57pm Jan 16, 2013 9:57pm
hi smikester,
finally after some weeks (let's say months) of attempt to understand better the EGBP and how to not be trapped by possible confusions in EU and/or GU trades, i would like to post sometimes my study in here
or else asking advice because really this cross is strange some days

bye bye see you soon
90% of traders use TA, indicators and prediction
  • #1,911
  • Jan 16, 2013 11:47pm Jan 16, 2013 11:47pm
Looks like EG is forming a double top pretty soon if EUR does end up dipping down. what you guys think?

should positively related to EUR. I am new to this pair, this is the first time I trade.

But pretty scary looking at WEEKLY chart.
Whatever is happening right now has happened before and will happen again.
  • #1,912
  • Jan 17, 2013 12:03am Jan 17, 2013 12:03am
Quoting mnmnmmnnmnmn
Looks like EG is forming a double top pretty soon if EUR does end up dipping down. what you guys think?

should positively related to EUR. I am new to this pair, this is the first time I trade.

But pretty scary looking at WEEKLY chart.
a move down is possible IMO. not simple with this weekly setup, but a swing till 8275 again should happen.
main weekly area to be retested is 8220 and 8190 which are very far from here but who knows
90% of traders use TA, indicators and prediction
  • #1,913
  • Jan 17, 2013 2:26am Jan 17, 2013 2:26am
Quoting _BBKing_
a move down is possible IMO. not simple with this weekly setup, but a swing till 8275 again should happen.
main weekly area to be retested is 8220 and 8190 which are very far from here but who knows
Hi BB and thanks for calling by. I agree a move down is possible. I am of the opinion that we just cleared a weekly head and shoulders, complete with a retest , allbeit very deep, of the neckline at around .8150.

We are at the top of the channel and just encountering problems with .83xx which was the 2011 low and formed a large consolidation in early 2012. So on the way up .8220 was not addressed properly and it looks possibly like a logical level to retrace to if we are in a bull market.

It will be interesting to see David Cameron's effort tomorrow as he has boxed himself into a corner and I think this bull market has a lot to do with the UK being more isolated from Europe as Europe slowly resolves its difficulties.

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Gone to a better place
  • #1,914
  • Jan 17, 2013 2:41am Jan 17, 2013 2:41am
Quoting _BBKing_
hi smikester,
finally after some weeks (let's say months) of attempt to understand better the EGBP and how to not be trapped by possible confusions in EU and/or GU trades, i would like to post sometimes my study in here
or else asking advice because really this cross is strange some days

bye bye see you soon
I would welcome your opinions, charts and what have you. You know I respect your analysis ansd we need more critical input in this thread (which was started by accident!)
Gone to a better place
  • #1,915
  • Jan 17, 2013 3:09am Jan 17, 2013 3:09am
Quoting smikester
I would welcome your opinions, charts and what have you. You know I respect your analysis ansd we need more critical input in this thread (which was started by accident!)
tks
indeed i missed from here because i really had problems in understanding the cross!
still something not very clear to me but overall i'm getting some good trades so it's a good sign!

now... said this... i'm in red with a short 8310.
luckily i went with 1/3 positon since counter trend etc..
cutted -25
90% of traders use TA, indicators and prediction
  • #1,916
  • Jan 17, 2013 3:31am Jan 17, 2013 3:31am
reversed long with a stop below 8310
should give me opp to get some pips till day ends..
90% of traders use TA, indicators and prediction
  • #1,917
  • Jan 17, 2013 4:47am Jan 17, 2013 4:47am
Quoting _BBKing_
reversed long with a stop below 8310
should give me opp to get some pips till day ends..
reacted in time!
90% of traders use TA, indicators and prediction
  • #1,918
  • Jan 17, 2013 8:25am Jan 17, 2013 8:25am
Quoting _BBKing_
reacted in time!
targeted and covered morning's loss +2pips

now babysitting a GU short
90% of traders use TA, indicators and prediction
  • #1,919
  • Jan 17, 2013 8:27am Jan 17, 2013 8:27am
Quoting _BBKing_
targeted and covered morning's loss +2pips

now babysitting a GU short
I think that Gbp/Usd short is a hold.
Gone to a better place
  • #1,920
  • Jan 17, 2013 11:30am Jan 17, 2013 11:30am
Hi SM and BB,

I have been watching this pair for a while. And can you guys share your thoughts on the overall correlation of EU GU with EG, like how EG is gonna react in correspondence to EU and GU?

Thanks
Whatever is happening right now has happened before and will happen again.
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