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EUR/GBP - What a great pair to trade!

  • #3,241
  • Jul 8, 2016 4:55am Jul 8, 2016 4:55am
Hello Honorable Comrades, I'm a 'newbie' still taking lessons Lol... If I am allowed to comment or ask a question on the EU/GPB, could I be wrong to say she's trying to have a double top on the 1hTF before hitting down? Could it also begin a long term bearish with all TF hitting resistance?

If there's anyone who can guide me further, please do
  • #3,242
  • Jul 8, 2016 8:31am Jul 8, 2016 8:31am
Quoting jusstin911
Hello Honorable Comrades, I'm a 'newbie' still taking lessons Lol... If I am allowed to comment or ask a question on the EU/GPB, could I be wrong to say she's trying to have a double top on the 1hTF before hitting down? Could it also begin a long term bearish with all TF hitting resistance? If there's anyone who can guide me further, please do

You are welcome. You could be right. The massive rise from .7600 to .8600 in the last few days is probably due a retracement at least. I am not trading this pair at the moment and I consider myself an experienced trader. The reasons are complex but boil down to the fact that these are two of the weakest currencies at the moment.

However, if you see a double top on the hourly, you want to trade the break of the neckline, otherwise it's just a consolidation, isn't it?

So draw a line, sell below it, or even safer, put a sell stop order under the price when there is a retest of that line.

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Gone to a better place
  • #3,243
  • Jul 8, 2016 9:17am Jul 8, 2016 9:17am
Quoting smikester
{quote} You are welcome. You could be right. The massive rise from .7600 to .8600 in the last few days is probably due a retracement at least. I am not trading this pair at the moment and I consider myself an experienced trader. The reasons are complex but boil down to the fact that these are two of the weakest currencies at the moment. However, if you see a double top on the hourly, you want to trade the break of the neckline, otherwise it's just a consolidation, isn't it? So draw a line, sell below it, or even safer, put a sell stop order under...

Thanks alot for taking time to respond and guild me further... I am watching out for a possible long term bear from the monthly TF...
  • #3,244
  • Jul 11, 2016 6:23pm Jul 11, 2016 6:23pm
Do you think the choice of Mrs. May ( who is pro-brexit) as Prime Minister will have a positive or negative impact on the pound on behalf of the euro?
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  • #3,245
  • Jul 11, 2016 6:32pm Jul 11, 2016 6:32pm
Quoting filostro
Do you think the choice of Mrs. May ( who is pro-brexit) as Prime Minister will have a positive or negative impact on the pound on behalf of the euro? {image}
Mrs. May is pro-Bremain but committed to seeing the result of the referendum implemented. Nevertheless, the quick selection of a new PM is positive for the sterling pound; I expect EURGBP to bear southwards with greater momentum.
Do your homework, follow the footprints of smart money
  • #3,246
  • Jul 12, 2016 3:18am Jul 12, 2016 3:18am
I am in sell with TP 0.8420
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  • #3,247
  • Jul 12, 2016 6:05am Jul 12, 2016 6:05am
I have a short position as well, my target is 0.8400, but I think it will likely drop below that level.
  • #3,248
  • Jul 12, 2016 9:30pm Jul 12, 2016 9:30pm
A bounce off .8315 ?
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FF journal: Peaks and Troffs
  • #3,249
  • Jul 12, 2016 11:00pm Jul 12, 2016 11:00pm
The Monthly chart shows this pair was massively overbought at 8630.
A drop under 79 is feasible.
Without having an understanding of down, you can never appreciate up.
  • #3,250
  • Jul 13, 2016 12:50am Jul 13, 2016 12:50am
- A break off 0.8340 - 0.8325 area will lead to a drop to 0.8185 - 0.8171 area
  • #3,251
  • Jul 13, 2016 5:13am Jul 13, 2016 5:13am
Good morning at all,
looking at the graph I suppose it could happen this.
Now we are in a bearish triangle, in which the support is the multi months lateral.
If it is broken the TP is the 38.2 retracement of the movement started in june 2016. At this level there is also the 23.2 retracement of the movement started in the second half of 2015.
Both these retracements are on the upperside of the white channel started in 2009. Maybe the TP could be between 90 and 95 --> However about this conclusion I am not sure because there are tooooooooo things that could happen.
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  • #3,252
  • Jul 14, 2016 6:20am Jul 14, 2016 6:20am
That one was not so difficult to figure out. Pound at 30 year lows, the Americans could still raise rates. Why would he cut? Bagged 100 pips off that one.
Be humble or be humbled.
  • #3,253
  • Jul 14, 2016 7:28pm Jul 14, 2016 7:28pm
EUR/GBP .8310

Has sanity regathered control of the asylum ?

We could be in for a very sharp fall on this pair as I don't think the market is placed short.
Infact the market seems to be placed long and more to the point overly short GBP.

Lets see how this plays out.

So far the economists have been wrong .. again. Im guessing they were the ones who voted remain.
  • #3,254
  • Jul 15, 2016 5:56am Jul 15, 2016 5:56am
I opened a short position after I saw the shooting star candlestick on the 30-minute time-frame and my target is at 0.8300.
  • #3,255
  • Jul 21, 2016 7:45pm Jul 21, 2016 7:45pm
EUR/GBP .8325

This pair is stalling and GBP excuses for imploding have waned.

My tech guy tells me that .8050 could now come into play.

Still short this pair fundamentally so any technical assistance to support a bearish view is music to my ears.

Lets see if he is right ..
  • #3,256
  • Jul 21, 2016 8:14pm Jul 21, 2016 8:14pm
Quoting lasty
EUR/GBP .8325 This pair is stalling and GBP excuses for imploding have waned. My tech guy tells me that .8050 could now come into play. Still short this pair fundamentally so any technical assistance to support a bearish view is music to my ears. Lets see if he is right ..

Here is a good read

http://www.telegraph.co.uk/business/...to-boom-again/
  • #3,257
  • Jul 22, 2016 7:05am Jul 22, 2016 7:05am
Quoting lasty
{quote} Here is a good read http://www.telegraph.co.uk/business/...to-boom-again/
The reality this morning was pretty grim.
Gone to a better place
  • #3,258
  • Edited 9:56am Jul 23, 2016 2:47am | Edited 9:56am
For future reference for next week.
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  • #3,259
  • Jul 24, 2016 8:33pm Jul 24, 2016 8:33pm
Quoting smikester
{quote} The reality this morning was pretty grim.
Yes the data wasn't that good but there is alot about to happen which I believe will be positive for GBP.

The fragility of the markets globally and the G20 dont want another GFC which is why they will support Brexit.

I still think another GFC will happen but Brexit wont be it .

I think Europe will remain under pressure hence EUR/GBP short.
  • #3,260
  • Jul 25, 2016 4:32am Jul 25, 2016 4:32am
What do you think ?
16: it seems we are the correction movement ABC
17: it seesm that the C has as target the lateral channel (white of pic 20) in order to test and after let the bull movement starts again.
19: this ABC seems a 5-3- 5 (??) ..> 5 yellow, 3 pink and seems there is a triangle.

What do you think to put a sell stop order just below the triangle?
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