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EUR/GBP - What a great pair to trade!

  • #1,921
  • Jan 17, 2013 12:00pm Jan 17, 2013 12:00pm
Quoting smikester
I think that Gbp/Usd short is a hold.
I agree with you smikester. The monthly, weekly and daily charts are all bearish.
If you think you can or cannot do it you are correct
  • #1,922
  • Jan 17, 2013 12:40pm Jan 17, 2013 12:40pm
Quoting pabloski
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)
Nice to wake up and see my first TP was hit. Now I'm in wait and see mode. This could retrace to .8283 level again or keep moving up and reach .8395 - .8423 zone. IMO the up move has a better chance as long as price rests nicely @ .8355 like now.
  • #1,923
  • Jan 17, 2013 1:03pm Jan 17, 2013 1:03pm
I like to trade EJ a lot, but too much volatility is hard to handle for me sometimes. I'm now splitting my positions between EJ and EG. Maybe a low volatility pair was what I needed to complement my trading!

Thank you for this thread Smikester and everyone who takes part.
  • #1,924
  • Jan 17, 2013 1:25pm Jan 17, 2013 1:25pm
large bearish divergence on EURGBP, just need a topping candle sub 0.84 and we will head sub 0.83
  • #1,925
  • Jan 17, 2013 1:28pm Jan 17, 2013 1:28pm
Quoting JeremyWS
large bearish divergence on EURGBP, just need a topping candle sub 0.84 and we will head sub 0.83
Sub 0.83 could be no more than 0.8283
  • #1,926
  • Jan 17, 2013 2:42pm Jan 17, 2013 2:42pm
4HR chart looks lack of strength. Looking for side way correction at asian market to get all the indicators fixed.
Whatever is happening right now has happened before and will happen again.
  • #1,927
  • Jan 18, 2013 1:24am Jan 18, 2013 1:24am
Quoting smikester
I think that Gbp/Usd short is a hold.
I closed ....
maybe a mistake but seems like i will be able to load again higher.
or buy it next week
90% of traders use TA, indicators and prediction
  • #1,928
  • Jan 18, 2013 1:24am Jan 18, 2013 1:24am
Quoting JeremyWS
large bearish divergence on EURGBP, just need a topping candle sub 0.84 and we will head sub 0.83
hi jeremy!
nice to meet you around here
90% of traders use TA, indicators and prediction
  • #1,929
  • Jan 18, 2013 1:27am Jan 18, 2013 1:27am
Quoting mnmnmmnnmnmn
4HR chart looks lack of strength. Looking for side way correction at asian market to get all the indicators fixed.
...but never forget what we are talking about in weekly TF!
be careful with short this thing can keep rising straight to 0.84 then 0.85 before giving a sign of pullback again.

EU is actually stable, while GU not giving good signs of recover. at least not yet....
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_GBP_Weekly_snapshot.jpg Size: 67 KB
90% of traders use TA, indicators and prediction
  • #1,930
  • Jan 18, 2013 11:52am Jan 18, 2013 11:52am
Looks like we are finally approaching 0.8395 - 0.8423 zone. It's possible to see some retracement now (could be 0.8355), but given GBP weaknees I think we are on the way to 0.8489 - 0.8530 IMO.
  • #1,931
  • Jan 20, 2013 4:33pm Jan 20, 2013 4:33pm
I will be closely watching PA @ 0.8405/0.8423 resistance. Surpassing that level should make it easier till 0.85.

Anyone has thoughts for the starting week?

Best wishes for all.
  • #1,932
  • Jan 20, 2013 4:39pm Jan 20, 2013 4:39pm
If price fails to break it, I'm biased for a consolidation rather than a retracement. Let's see what happens!
  • #1,933
  • Jan 20, 2013 4:49pm Jan 20, 2013 4:49pm
Quoting _BBKing_
hi jeremy!
nice to meet you around here
Hi, I don't normally comment here but visit every day, but in all seriousness EURGBP is overextended imo and due to fall back to 0.83, I can even see a H&S forming.

While I agree GBPUSD doesn't look to great but can bounce even when EUR has a bad day which I see likely soon.
  • #1,934
  • Jan 20, 2013 5:24pm Jan 20, 2013 5:24pm
Thanks for your input. I don't doubt that there could be a retracement to .8300 or anywhere else but I'm having difficulty seeing the head and shoulders you mention. Please could you post a chart? Which time frame do you see it on?
Gone to a better place
  • #1,935
  • Jan 20, 2013 6:19pm Jan 20, 2013 6:19pm
Quoting smikester
Thanks for your input. I don't doubt that there could be a retracement to .8300 or anywhere else but I'm having difficulty seeing the head and shoulders you mention. Please could you post a chart? Which time frame do you see it on?
I think Jeremy talks about this, the second half is still missing however.. too early to tell
Attached Image (click to enlarge)
Click to Enlarge Name: eg,h4.gif Size: 13 KB
  • #1,936
  • Jan 21, 2013 3:40am Jan 21, 2013 3:40am
What I like to do is observe price action around levels like this, .8400. It is a "brn" or big round number as described on the J16 thread, where I learned a lot of what I know about price action. On the way down we had some consolidation around this number and so it has been treated with some caution in the past, a place to close and open trades, tighten stop losses, what have you.

Next job is to assess any trades I have. Have they been open for hours or days? If days then I might leave them open or tighten stops. If hours then I might close them. Closing a long is a sell order. I might place a further buy orde above the consolidation, so that I don't miss the long trend. If I see a reversal pattern on the daily then might close long term longs and join the down trend.

Now go back to paragraph 1. Price action. Can't beat it.
Gone to a better place
  • #1,937
  • Jan 21, 2013 3:42am Jan 21, 2013 3:42am
good morning would like to share my view in actual eurgbp possible setup for a short term

quick video linked here
90% of traders use TA, indicators and prediction
  • #1,938
  • Jan 21, 2013 6:36am Jan 21, 2013 6:36am
Quoting _BBKing_
good morning would like to share my view in actual eurgbp possible setup for a short term

quick video linked here
Excellent S&R analysis

Olu
If you think you can or cannot do it you are correct
  • #1,939
  • Jan 21, 2013 7:35am Jan 21, 2013 7:35am
Quoting Olu
Excellent S&R analysis

Olu
tks
still learning everyday
90% of traders use TA, indicators and prediction
  • #1,940
  • Jan 21, 2013 11:26am Jan 21, 2013 11:26am
It seems there is some kind of implicit agreement between many members with Vouchers here at ForexFactory. What I see is that they have lot of interaction and share lots if ideas. But it's sad to see most of this interaction occurs between them and only them. We members without Vouchers or few posts also share our ideas, we do it everyday like you. But it looks like our words are simply not read or considered. We rarely receive comments about what we share or ask, although many of our contributions are very valuable. Threads like this one look like dead because nobody with Vauchers makes posts, until someone do it and suddenly others Vouched members appear to comment. Even if an unVouched member said something similar first.

I say "it seems" as I don't believe such thing really exits, but definitely lots of Vouched members assume this position. Let me tell you, you do a great job at making unVouched members feel excluded. We are here to earn money, not reputation.
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