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EUR/GBP - What a great pair to trade!

  • #3,261
  • Jul 25, 2016 3:17am Jul 25, 2016 3:17am
Noticed now a rectangle just in the middle of the big triangle. I suppose that in the next hours the cross will move up or down very quicly
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  • #3,262
  • Jul 25, 2016 3:45am Jul 25, 2016 3:45am
We may have to wait for the FOMC BS to trigger this & most pairs.
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Without having an understanding of down, you can never appreciate up.
  • #3,263
  • Jul 25, 2016 6:02am Jul 25, 2016 6:02am
Quoting anonymousey
We may have to wait for the FOMC BS to trigger this & most pairs. {image}
Yes this for sure will set the direction.
The triangle however will be complete between today and early hours of tomorrow.
I suppose that this cross before FOMC will move between 0.8450 and 0.8280
  • #3,264
  • Jul 25, 2016 2:44pm Jul 25, 2016 2:44pm
Quoting lasty
{quote} 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.
I wanted to ask if you expected brexit to trigger the GFC? Or do you have other ideas?
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  • #3,265
  • Jul 26, 2016 12:29am Jul 26, 2016 12:29am
Looks like weaker shorts have been dumping their positions this morning, underlining .8400 as an important level, currently being retested. .8426 has been mentioned a few times in this thread.
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  • #3,266
  • Edited 1:19am Jul 26, 2016 12:31am | Edited 1:19am
Sell opportunity . I am already in with an aggresive covered position.

Integration: On 30 M TF I noticed now that there is a divergence between the price and OBV. OBV indicates down
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  • #3,267
  • Jul 26, 2016 12:37am Jul 26, 2016 12:37am
Quoting Devart
Sell opportunity . I am already in with an aggresive covered position. {image}
Just let me find my shades.
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  • #3,268
  • Jul 26, 2016 12:47am Jul 26, 2016 12:47am
Quoting smikester
{quote} I wanted to ask if you expected brexit to trigger the GFC? Or do you have other ideas?
No I don't think Brexit is the catalyst for the GFC.

I think counter measures are in place for that.

I'm definitely not comfortable with Europe but its always something out of left field that normally triggers a crisis.
  • #3,269
  • Jul 26, 2016 12:58am Jul 26, 2016 12:58am
Quoting lasty
{quote} No I don't think Brexit is the catalyst for the GFC. I think counter measures are in place for that. I'm definitely not comfortable with Europe but its always something out of left field that normally triggers a crisis.
Thanks for that. I noted you were interested in the Italian banking system and the problems it has. Were you aware that the sale of RBS, the biggest bank in the world, currently owned by the British taxpayer, has been put back 2 years because of a fall in its share value of £8 billion following brexit? It has recovered a little.
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  • #3,270
  • Jul 26, 2016 4:11am Jul 26, 2016 4:11am
http://www.fxstreet.com/news/eur-gbp...e-201607261053
  • #3,271
  • Jul 26, 2016 5:31am Jul 26, 2016 5:31am
Quoting anonymousey
We may have to wait for the FOMC BS to trigger this & most pairs. {image}
The upside of the triangle was penetrated then quickly rejected. I see a big drop coming.
Without having an understanding of down, you can never appreciate up.
  • #3,272
  • Jul 28, 2016 2:17am Jul 28, 2016 2:17am
Looking at long period, we have a 12345abc formation completed.
The abc it seems a running correction, the bull trend seems strong.
I put a buy order just up the resistence of the triangle.

Regards
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  • #3,273
  • Jul 29, 2016 1:53am Jul 29, 2016 1:53am
Will it go to 8500 before crashing.??
Without having an understanding of down, you can never appreciate up.
  • #3,274
  • Aug 8, 2016 1:53am Aug 8, 2016 1:53am
Looks like we might test .8600 or .8700. I like Thursday's engulfing daily candle and the reason for it. It seems as though the brexit shock was harder than estimated and interest rates were cut, which was expected. Additionally, though, there have been commitments to increase quantitative easing and for a further interest rate cut this year.

On top of the uptrend which is on all timescales, this is an ideal opportunity to build longs. We have broken the high of the last 3 weeks of tight consolidation and it looks solid.

The safest trade is to allow the break above .8500 to retest, then enter with a pending long. First target is last month's high - .8625.

Good luck.

Chart:

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  • #3,275
  • Aug 8, 2016 2:04am Aug 8, 2016 2:04am
I am looking to short, now maybe a bit early but around 8578 will do
trading is simple but is simple is not easy.
  • #3,276
  • Aug 8, 2016 2:07am Aug 8, 2016 2:07am
Quoting ZenNy
I am looking to short, now maybe a bit early but around 8578 will do
And is there any reason to short this pair? From .8578?
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  • #3,277
  • Aug 8, 2016 2:16am Aug 8, 2016 2:16am
Quoting smikester
{quote} And is there any reason to short this pair? From .8578?
she is tired... Bulls are not convinced, they running out of breath, and bears at waiting for quick kill....
trading is simple but is simple is not easy.
  • #3,278
  • Aug 8, 2016 3:33am Aug 8, 2016 3:33am
Quoting ZenNy
{quote} she is tired... Bulls are not convinced, they running out of breath, and bears at waiting for quick kill....
where sitting at 8504
trading is simple but is simple is not easy.
  • #3,279
  • Aug 8, 2016 5:23am Aug 8, 2016 5:23am
Quoting anonymousey
Will it go to 8500 before crashing.??
i'm with you on that crash i already have 2shorts opened
  • #3,280
  • Edited 2:12pm Aug 8, 2016 1:36pm | Edited 2:12pm
Quoting ZenNy
{quote} she is tired... Bulls are not convinced, they running out of breath, and bears at waiting for quick kill....
Thanks for sharing your perspicacious analysis.
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