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EUR/GBP - What a great pair to trade!

  • #2,621
  • Jan 26, 2015 4:28pm Jan 26, 2015 4:28pm
Eur/Gbp once again failed to hold above 0.7500 level and pulled back yesterday, let's see if it will breaks above 0.7505.
  • #2,622
  • Jan 28, 2015 2:50am Jan 28, 2015 2:50am
EUR/GBP has recovered after making a low of 0.7401. Intraday trend is bearish as long resistance 0.7515 holds.
The pair's minor resistance is around 0.7515 and break above will take the pair to 0.75435/ 0.7605.

Short term trend reversal only above 0. the downside minor support is around 0.7460 and break below will target 0.7396/0.7256 (61.8% retracement of 0.5676 and 0.9813).

Indicators (60 min chart)
CCI (50) - Sell
CCI (14) - Sell
Ichimoku- Sell

Recommendation: Sell EUR/GBP around 0.7470, SL 0.7515, Targets 0.7396/0.7258.
  • #2,623
  • Feb 5, 2015 7:02am Feb 5, 2015 7:02am
Hi people,

I will try to be active on this thread as I practice trading on this pair on a daily basic.
I follow the fundamental and technical and use the daily pivot points as references for my price predictions and entering points (depending on whether the day is going to be a scalping oen or else..)

For now we had a huge drop last night, with a huge up move this morning that reached the 50% retracement:
Attached Image (click to enlarge)
Click to Enlarge Name: wW7JLf6.png Size: 124 KB


I think the price by the closure at 18h will most probably end on today's pivot at 0.7494.

On a mid-term I'm hesitating on predicting that the pair will go up and get back to it's original weekly trend and most likely reach 0.7713 (or higher).

Attached Image (click to enlarge)
Click to Enlarge Name: BkPCjEB.png Size: 129 KB


Here we are for today.


(PS: Please do not mind the orders on the chart, it's a second demo acc I use, the other one has just undreds of orders and I can't see the candles anymore and have no clue how to deactivate this feature on jForex.)
  • #2,624
  • Feb 5, 2015 7:07am Feb 5, 2015 7:07am
Quoting ThePolarFox
Hi people, I will try to be active on this thread as I practice trading on this pair on a daily basic. I follow the fundamental and technical and use the daily pivot points as references for my price predictions and entering points (depending on whether the day is going to be a scalping oen or else..) For now we had a huge drop last night, with a huge up move this morning that reached the 50% retracement: {image} I think the price by the closure at 18h will most probably end on today's pivot at 0.7494. On a mid-term I'm hesitating on predicting...
is that pattern recognition software part of your charting package or is that a custom indi? I like it!
  • #2,625
  • Feb 5, 2015 7:14am Feb 5, 2015 7:14am
It's included in jForex but it's not accurate, all drawn stuff you see on the charts are mine, I will show you an example of what this pattern recognition thingy sees:

Attached Image (click to enlarge)
Click to Enlarge Name: mH1Z3zP.png Size: 99 KB


10 seconds chart on EG, but I only trust in when I see the pattern myself, it can provide good signals mostly when market is not volatile, like.. at night I can use it for scalpings for example.
  • #2,626
  • Feb 5, 2015 9:26am Feb 5, 2015 9:26am
Close happened at 0.7482 with a broken triangle on M5 with a up move.
I wasn't that far from the target, it was just harder to predict accuratly with a large set of daily pivots.

Out for now since the word "Greece" can show up at any moment and destroy my scalping.
My prediction for tomorow is a bullish day.
  • #2,627
  • Feb 5, 2015 10:06am Feb 5, 2015 10:06am
Oh well, it can happen, but late target hiting so my prediction was totaly valid:

Attached Image (click to enlarge)
Click to Enlarge Name: Qk34dzc.png Size: 107 KB
  • #2,628
  • Feb 5, 2015 10:18am Feb 5, 2015 10:18am
Yea,, good call mate,, I am in from 7470 haven't decided on where to bug out yet.
  • #2,629
  • Feb 5, 2015 10:25am Feb 5, 2015 10:25am
Quoting js5020
Yea,, good call mate,, I am in from 7470 haven't decided on where to bug out yet.

Thank you!
I can't really enlighten you about future PA on EG unfortunately, I'm not that much skilled yet and when I look at different TF I see both bullish and bearish signals on candles... I'd go with a preference for the bullish side as the fundamental shown better data results on the euro side.. In another hand.. Greece..
  • #2,630
  • Feb 5, 2015 10:50am Feb 5, 2015 10:50am
Well neither am I, this is an experiment away from my xxx/jpy trading. Its a small live position and stops are at 7449 and atm 1% risk but if it takes flight I will add, I have R1 in the 7525/30 area, R2 7550ish and tentative TP sits there. Not saying it will hit the targets with all the news going on but we will see.
  • #2,631
  • Feb 5, 2015 11:10pm Feb 5, 2015 11:10pm
Morning people,

Today we have a set of the following daily pivots:
R3 0.75393
R2 0.75182
R1 0.75052
Pivot 0.74841
S1 0.74630
S2 0.74500
S3 0.74289

Techinical suggests that the short/mid-term trend to the upside continues but today's move will only depend on the fundamental with important datas coming.
My basic intraday opinion remains bullish for today till I get to see the datas for the GBP at 10:30AM (GMT+1 time).
  • #2,632
  • Feb 5, 2015 11:18pm Feb 5, 2015 11:18pm
have a chart with that - hard to get bullish however
Attached Image (click to enlarge)
Click to Enlarge Name: 6-02-2015 5-16-54 PM.png Size: 51 KB
It takes a lot for me to IGNORE you, but you can try.
  • #2,633
  • Feb 5, 2015 11:35pm Feb 5, 2015 11:35pm
I base myself on GU and EU technical also, GU needs a correction, so I think GBP news will be either lil bit negative either just normal.
If so, we could have a week ending with the two pairs correlating with an EG on R1 at week closure for a continuing little uptrend.
That's what I see at the moment, it can change at any minutes with the fundamentals.
  • #2,634
  • Feb 5, 2015 11:59pm Feb 5, 2015 11:59pm
Quoting Erebus
have a chart with that - hard to get bullish however {image}
hey erebus, just wondering what s/r indi your using or are they manually drawn?
  • #2,635
  • Feb 6, 2015 1:09am Feb 6, 2015 1:09am
Quoting wyley187
{quote} hey erebus, just wondering what s/r indi your using or are they manually drawn?
that's 4 week high / low line as per Donchian
Attached File(s)
File Type: ex4 5 Week Breakout.ex4   6 KB | 413 downloads
It takes a lot for me to IGNORE you, but you can try.
  • #2,636
  • Feb 6, 2015 1:19am Feb 6, 2015 1:19am
We have a rejection of a trip to S1 with significant volumes before the GBP data, let's see what it brings, I keep my set of longs till the release to see.

H4 and H1 are showing bullish signs on the technical.
  • #2,637
  • Feb 6, 2015 1:33am Feb 6, 2015 1:33am
As thought, GBP data is negative, we now will probably head to R1/R2 after that little correction of the up move.

I expect most of the move to happen when US NFP is released.
  • #2,638
  • Feb 6, 2015 2:47am Feb 6, 2015 2:47am
Quoting Erebus
{quote} that's 4 week high / low line as per Donchian {file}
Thanks!
  • #2,639
  • Feb 6, 2015 2:53am Feb 6, 2015 2:53am
So, ok, they wanna play this way, I'm buying and playing with fibonacci retracements.
  • #2,640
  • Feb 6, 2015 3:04am Feb 6, 2015 3:04am
Quoting ThePolarFox
So, ok, they wanna play this way, I'm buying and playing with fibonacci retracements.
Are you sure you are even in the right thread?

How about a chart?

It takes a lot for me to IGNORE you, but you can try.
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