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EUR/GBP - What a great pair to trade!

  • #1,961
  • Feb 13, 2013 6:43am Feb 13, 2013 6:43am
now seems not ready for divergence ! let;s see next 2 candles ..... RSI in over over overbought ! It important next andel will not close over the last pin than we have to be ready , maybe signal will arrive in 5-6 hours ..... creating some inside candle .... I HOPE SO coz down move will be stronger !

Quoting smikester
Much too advanced for me.
  • #1,962
  • Feb 13, 2013 8:14am Feb 13, 2013 8:14am
Quoting marco mp
now seems not ready for divergence ! let;s see next 2 candles ..... RSI in over over overbought ! It important next andel will not close over the last pin than we have to be ready , maybe signal will arrive in 5-6 hours ..... creating some inside candle .... I HOPE SO coz down move will be stronger !
- Totally agree with you, its a great zone to watch.

- GL.
Attached Image (click to enlarge)
Click to Enlarge Name: EG H4.png Size: 19 KB
  • #1,963
  • Feb 13, 2013 8:15am Feb 13, 2013 8:15am
Quoting smikester
Much too advanced for me.
.
  • #1,964
  • Feb 14, 2013 4:19am Feb 14, 2013 4:19am
Quoting Ziko9o8
- Totally agree with you, its a great zone to watch.

- GL.
- Here we go.

- GL.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: ggu H4.png Size: 15 KB
  • #1,965
  • Feb 14, 2013 5:34am Feb 14, 2013 5:34am
Well done Marco and Ziko for spotting that. It took a while but played out. I hope you got something from it. I won't enter unless the M15 200 ma agrees, so I always miss tops and bottoms.
Gone to a better place
  • #1,966
  • Feb 14, 2013 6:44am Feb 14, 2013 6:44am
Quoting smikester
Well done Marco and Ziko for spotting that. It took a while but played out. I hope you got something from it. I won't enter unless the M15 200 ma agrees, so I always miss tops and bottoms.
- Sometimes catching tops and bottoms is easy, if I know what am doing.

- And sometimes catching tops and bottoms is a killer, its like throwing yourself in front of moving train and its also called catching a falling knife.

- OK, you know what I am talking about.

- I'll end this talk (BB ST) here, looking forward to hear your opinion.

- The reason for me to take this trade is, if we take the close data and draw Equidistant channel, we'll see E/G broke it and also broke the 161.8 Fibo extension.

- So if I sold it, I'll be jumping in front of a free train.

- But I always looking for a volume confirming my thoughts.

- I saw a high climax volume (green volume bar braking through the upper side of the channel), so I waited. I didn't sell.

- After another a hour I saw the boys done it and go away (red volume bar), so I sold the third bar (on a low volume bar confirming the new trend).

- And this scenario worked well, we went back inside the channel again.

- Add to that, cable in support zone and we are in a demand zone on H4 time frame.

- Cheers.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EG HL.png Size: 20 KB
Click to Enlarge Name: EG close.png Size: 20 KB
  • #1,967
  • Feb 14, 2013 9:28am Feb 14, 2013 9:28am
Quoting Ziko9o8
- Sometimes catching tops and bottoms is easy, if I know what am doing.

- And sometimes catching tops and bottoms is a killer, its like throwing yourself in front of moving train and its also called catching a falling knife.

- OK, you know what I am talking about.

- I'll end this talk (BB ST) here, looking forward to hear your opinion.

- Cheers.
Well I'm impressed. It never fails to amaze me how many different strategies there are out there. What does BB ST mean, by the way? Thanks for the explanation. You might be interested to know I just entered short at .8605 or thereabouts, after the break and retest of the .8600 level. Off the M15 it's low risk and I wonder if we might retest .8500 or even go to .8350 before the uptrend continues?

Just noticed I've been knocked out of my cable shorts which bodes well for these Eur/Gbp shorts.
Gone to a better place
  • #1,968
  • Feb 14, 2013 11:16am Feb 14, 2013 11:16am
Quoting smikester
Well I'm impressed. It never fails to amaze me how many different strategies there are out there.
- You will find this strategy in EWP book by Robert Prechter. At page 36 called Volume.

Quoting smikester
What does BB ST mean, by the way?
- BBST = Buying Bottoms Sell Tops.

Quoting smikester
You might be interested to know I just entered short at .8605 or thereabouts, after the break and retest of the .8600 level. Off the M15 it's low risk and I wonder if we might retest .8500 or even go to .8350 before the uptrend continues?

Just noticed I've been knocked out of my cable shorts which bodes well for these Eur/Gbp shorts.
- Well, I would be afraid to continue shorting E/G from here the 38.2 Fibo level hold well, may be bulls have something in mind.

- But you still didn't replay me, what cause a bottom or a top?

- Cheers
Attached Image (click to enlarge)
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  • #1,969
  • Edited 11:52am Feb 14, 2013 11:33am | Edited 11:52am
Another reason to be careful shorting here

EDIT:
forgot to put, i'm long from entry order hit earlier on the trend line. stop 0.8540 limit 0.8655
not overly confident on it thought. will probably move trade to B.E soon and see.
Attached Image (click to enlarge)
Click to Enlarge Name: EUR: GBP 4hour.png Size: 115 KB
  • #1,970
  • Feb 14, 2013 4:48pm Feb 14, 2013 4:48pm
Quoting jimbo86
Another reason to be careful shorting here

EDIT:
forgot to put, i'm long from entry order hit earlier on the trend line. stop 0.8540 limit 0.8655
not overly confident on it thought. will probably move trade to B.E soon and see.
Thanks for the chart and analysis. I see it now, why my short was stopped out. Your long is doing well. A few hours of consolidation here possible as Asia usually doesn't do much with this pair.
Gone to a better place
  • #1,971
  • Feb 15, 2013 3:00am Feb 15, 2013 3:00am
Stopped out on trade at BE.
looks like a head and shoulders formed on the 1hr, and just breaking out by the looks.
I wouldn't short here though, its retesting the TL i entered on yesterday
Good luck for today
Attached Image (click to enlarge)
Click to Enlarge Name: EUR: GBP 1hr.png Size: 113 KB
  • #1,972
  • Feb 15, 2013 3:12am Feb 15, 2013 3:12am
short short and short, i think S 8560 can not hold we se after GPB data about 20 min, euro is weak, Jpy strong like predator so i stay short on JPY pairs, GPB second strongest curency today, but can change after data,
  • #1,973
  • Feb 15, 2013 3:48am Feb 15, 2013 3:48am
Quoting Ziko9o8
- You will find this strategy in EWP book by Robert Prechter. At page 36 called Volume.



- BBST = Buying Bottoms Sell Tops.



- Well, I would be afraid to continue shorting E/G from here the 38.2 Fibo level hold well, may be bulls have something in mind.

- But you still didn't replay me, what cause a bottom or a top?

- Cheers
Sorry Ziko I thought you were asking what I thought of your analysis. A bottom is caused by short covering and a top is caused by long covering. It's that simple. They are not usually caused by new orders coming into the market. They are what follows the cascade of cover trades. All this usually occurs round a point of confluence or major fundamental change (interest rates is the most powerful).
Gone to a better place
  • #1,974
  • Feb 15, 2013 9:06am Feb 15, 2013 9:06am
Quoting smikester
Sorry Ziko I thought you were asking what I thought of your analysis. A bottom is caused by short covering and a top is caused by long covering. It's that simple. They are not usually caused by new orders coming into the market. They are what follows the cascade of cover trades. All this usually occurs round a point of confluence or major fundamental change (interest rates is the most powerful).
- Thanks.
  • #1,975
  • Feb 18, 2013 4:31am Feb 18, 2013 4:31am
Long @ 33...looking for 16 to 32pips...if Im on the right side of the days range...just have to watch closely...possible H&S could be forming...TWT
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 30 KB
Those that say do not know. Those that know do not say.
  • #1,976
  • Feb 18, 2013 5:38am Feb 18, 2013 5:38am
Quoting ohenry
Long @ 33...looking for 16 to 32pips...if Im on the right side of the days range...just have to watch closely...possible H&S could be forming...TWT
I see what you are doing. My gameplan is to sell as close as possible to 8680 for a strong move lower...

Olu
If you think you can or cannot do it you are correct
  • #1,977
  • Feb 18, 2013 5:41am Feb 18, 2013 5:41am
With the H&S disqualified...I'm anticipating to see my 2nd TP level...but should further down side ensue I suspect we may only revisit levels around the days high...no doubt this will be spurred on by speeches later...TWT
Those that say do not know. Those that know do not say.
  • #1,978
  • Feb 18, 2013 5:43am Feb 18, 2013 5:43am
Quoting Olu
I see what you are doing. My gameplan is to sell as close as possible to 8680 for a strong move lower...

Olu
Yes that would be a solid short entry level...should we see it today..TWT
Those that say do not know. Those that know do not say.
  • #1,979
  • Feb 18, 2013 8:11am Feb 18, 2013 8:11am
A longer term view:

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp130218m1.gif Size: 22 KB


And the same chart on the M30 time frame:

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp130218m30.gif Size: 20 KB
Gone to a better place
  • #1,980
  • Feb 18, 2013 8:15am Feb 18, 2013 8:15am
Took advantage of the DD...looking for 49 now with the bla bla in 15...
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp1.gif Size: 36 KB
Those that say do not know. Those that know do not say.
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