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EUR/GBP - What a great pair to trade!

  • #2,121
  • Jul 4, 2013 6:50am Jul 4, 2013 6:50am
Quoting Olu
Price has rallied to break out of the 8600 level. If we close like this it changes things Olu

Price has fallen back into the range. Holiday trading??

Olu
If you think you can or cannot do it you are correct
  • #2,122
  • Jul 4, 2013 6:58am Jul 4, 2013 6:58am
Crazy price action. I just don't know. Did the BoE make a couple of billion here?
Gone to a better place
  • #2,123
  • Jul 4, 2013 7:06am Jul 4, 2013 7:06am
im not sure it was the intention of the BOE to lose over 100 pips against the majors, however it could of been an opportunity for the BOE to capitalise of there qe programme.
  • #2,124
  • Jul 9, 2013 9:11am Jul 9, 2013 9:11am
Today's moves.

Either a very quick retest of .8600 or a rejection of these highs, We'll find out this week. Shorts favoured below .8600. Please get back to trading normally, Eur/Gbp...

M15 Donchian channel low of 1.2850 broke nicely in the New York session in the best Euro move for some time. Cable did the same but started earlier, and the New York move was stultified by March's 1.4830.
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  • #2,125
  • Jul 9, 2013 11:36am Jul 9, 2013 11:36am
Hi, does anyone of you trade the Daily timeframe? There is a huge bearish pin bar today placed at the top of the trading range that has been valid since April.. I'm probably going for the short. I'll probably enter on the 50% retrace of the pin bar.
SL 1 pip above the pin
TP at the grey marked support area
Anyone with me ?
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbpdaily.png Size: 51 KB
Only those who dare to fail greatly can ever achieve greatly. - R. Kennedy
  • #2,126
  • Jul 9, 2013 1:47pm Jul 9, 2013 1:47pm
Quoting ChiLL 14
Hi, does anyone of you trade the Daily timeframe? There is a huge bearish pin bar today placed at the top of the trading range that has been valid since April.. I'm probably going for the short. I'll probably enter on the 50% retrace of the pin bar. SL 1 pip above the pin TP at the grey marked support area Anyone with me ? {image}
I'll definitely be watching this. Not sure of my entry. I sometimes like to take an M15 candle close below the 38.2 with a sl above the 61.8 or I'll be waiting for an M15 or M5 price action candle to guide me off a retrace or even at least a solid hourly close below .8600. I agree .8469 looks like a good first target. The London midnight price and the London open price are crucial for me. Good luck.
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  • #2,127
  • Jul 9, 2013 2:44pm Jul 9, 2013 2:44pm
Quoting smikester
{quote} I'll definitely be watching this. Not sure of my entry. I sometimes like to take an M15 candle close below the 38.2 with a sl above the 61.8 or I'll be waiting for an M15 or M5 price action candle to guide me off a retrace or even at least a solid hourly close below .8600. I agree .8469 looks like a good first target. The London midnight price and the London open price are crucial for me. Good luck.

Alright, thanks
Only those who dare to fail greatly can ever achieve greatly. - R. Kennedy
  • #2,128
  • Jul 9, 2013 5:32pm Jul 9, 2013 5:32pm
Quoting ChiLL 14
Hi, does anyone of you trade the Daily timeframe? There is a huge bearish pin bar today placed at the top of the trading range that has been valid since April.. I'm probably going for the short. I'll probably enter on the 50% retrace of the pin bar. SL 1 pip above the pin TP at the grey marked support area Anyone with me ? {image}
Nice pin bar, but against the trend. May work, but be careful against the trend
  • #2,129
  • Jul 10, 2013 2:27am Jul 10, 2013 2:27am
Yes we'll try to be careful. On the monthly, is there a trend yet this year?
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  • #2,130
  • Jul 10, 2013 2:55am Jul 10, 2013 2:55am
Quoting flipnfaith
{quote} Nice pin bar, but against the trend. May work, but be careful against the trend

I know the momentum is bullish, but I don't think that the price is trending, it's choppy (range-bounded) in my opinion.
Only those who dare to fail greatly can ever achieve greatly. - R. Kennedy
  • #2,131
  • Jul 13, 2013 9:51am Jul 13, 2013 9:51am
eurgbp
Attached Image
If you think you can or cannot do it you are correct
  • #2,132
  • Jul 15, 2013 12:39am Jul 15, 2013 12:39am
Well, we have a double inside bar on the daily. I like the H4 accumulation for the range. I'll be long above ,8653 or short below .8634. Looks like .8600 proved a strong level, though.
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  • #2,133
  • Jul 15, 2013 11:05pm Jul 15, 2013 11:05pm
I woke up to see a very tight range in this pair this morning. It could be ideal to trade a London break out. Below is a daily chart. I have boxed out June which was an inside month. The high is .8590 and we can see the level previously respected in May. This month was the break out from that level as predicted by Elisab. Chill's pin bar was the retest of this level, something I suspected might happen, and the clear rejection on 10th July was a bar of double the normal ATR. This resulted in a sell off and we are now consolidating within that bar. At least we have a direction now and we can expect that bullish bar to follow through. (http://www.forexfactory.com/showthre...01#post6766501). The day range today is 8 pips, tight even for this pair.

Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp130716d1.JPG Size: 116 KB
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  • #2,134
  • Jul 16, 2013 3:00am Jul 16, 2013 3:00am
What fundamentals driving now EUR higher against GBP ???
I am very negative on EUR and latest France downgrades have confirmed my view. UK CPI was also on yearly high at 2.9%. But EUR is still driving higher.
  • #2,135
  • Jul 16, 2013 1:53pm Jul 16, 2013 1:53pm
Still at the half of the rise expected from the bullish head and shoulder. Next target: 0.88.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 18 KB
  • #2,136
  • Edited 12:21am Jul 17, 2013 12:05am | Edited 12:21am
Quoting bigfoot2008
What fundamentals driving now EUR higher against GBP ??? I am very negative on EUR and latest France downgrades have confirmed my view. UK CPI was also on yearly high at 2.9%. But EUR is still driving higher.
I'm not sure. Perhaps because the UK is undecided. We don't have a proper government and we are undecided about membership of the EEC. Any help here appreciated.

Maybe this: http://www.economist.com/blogs/freee...lanced-economy
Gone to a better place
  • #2,137
  • Jul 17, 2013 1:16am Jul 17, 2013 1:16am
I've been watching this pair and the GBP/CAD..... both are at either support or resistance levels, each time one of them creeps a little closer to a level a bunch of orders comes in and the candles jump back.

I've read about market manipulation a little lately and although I don't grasp the entire concept on how to trade it or spot it I do think based on what I have learned we are going to see a reversal in both of these pairs probably as soon as the news comes out on the GBP.
  • #2,138
  • Jul 17, 2013 1:45am Jul 17, 2013 1:45am
Quoting irongoose
I've been watching this pair and the GBP/CAD..... both are at either support or resistance levels, each time one of them creeps a little closer to a level a bunch of orders comes in and the candles jump back. I've read about market manipulation a little lately and although I don't grasp the entire concept on how to trade it or spot it I do think based on what I have learned we are going to see a reversal in both of these pairs probably as soon as the news comes out on the GBP.

I guess I'll have to keep studying up on that stuff yes? I managed to grab 37.5 pips on that trade and it was the first time I ever predicted such a move!!!
  • #2,139
  • Jul 18, 2013 12:26am Jul 18, 2013 12:26am
Looking for a long here:
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  • #2,140
  • Jul 18, 2013 12:46am Jul 18, 2013 12:46am
The bearish engulfing pattern yesterday (and the tweezer top) may have temporarily run out the rise of EurGbp.
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