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EUR/GBP - What a great pair to trade!

  • #3,301
  • Aug 12, 2016 12:31pm Aug 12, 2016 12:31pm
Time for a retrace.

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Indentify > Plan > Accept > Execute
  • #3,302
  • Aug 15, 2016 3:08am Aug 15, 2016 3:08am
My longs are doing really well. There was a convincing daily close above the July highs on Friday and next major resistance at .8770 which is the July 2013 high. All profits locked in. Good luck and trade carefully.

H4 Chart:

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Gone to a better place
  • #3,303
  • Aug 15, 2016 4:34am Aug 15, 2016 4:34am
- Target 0.8697

- Looking to close long round this level and think about short.
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  • #3,304
  • Aug 15, 2016 7:50am Aug 15, 2016 7:50am
Quoting smikester
My longs are doing really well. There was a convincing daily close above the July highs on Friday and next major resistance at .8770 which is the July 2013 high. All profits locked in. Good luck and trade carefully. H4 Chart: {image}
good call.!

i will try another short at 8707 small stop.
it seems to be an important level.
61.8 retrace, abcd pattern and 150 extension.

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  • #3,305
  • Edited 2:16am Aug 16, 2016 1:32am | Edited 2:16am
Quoting longshot_nl
{quote} good call.! i will try another short at 8707 small stop. it seems to be an important level. 61.8 retrace, abcd pattern and 150 extension. {image}
crap, wrong again..
well got stopped out by spike, still wrong.

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  • #3,306
  • Aug 16, 2016 6:58am Aug 16, 2016 6:58am
This channel is of interest. I'm using just below as the SL at the moment. Could break and retest .8625.

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Gone to a better place
  • #3,307
  • Edited Aug 17, 2016 1:36am Aug 16, 2016 7:36am | Edited Aug 17, 2016 1:36am
Sell stop order at 0.8668. It will be delated automatically in 7 hours by now if not triggered

EDIT: Trade closed with profit
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  • #3,308
  • Edited 8:39am Aug 16, 2016 7:55am | Edited 8:39am
I think there's unfilled supply at around the .8750 mark for swing trading. That's where I'm going to place my short.

Edit: Of course my first post is dead-freaking wrong.
  • #3,309
  • Aug 16, 2016 9:28am Aug 16, 2016 9:28am
Quoting smikester
This channel is of interest. I'm using just below as the SL at the moment. Could break and retest .8625. {image}
didn't see your message before.
have the same with gj. i missed that one by a few pips.
this looks bearish.. will join the bears if here.

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  • #3,310
  • Aug 16, 2016 9:36am Aug 16, 2016 9:36am
Quoting Skeptic
I think there's unfilled supply at around the .8750 mark for swing trading. That's where I'm going to place my short. Edit: Of course my first post is dead-freaking wrong.

Welcome to Forex Factory. Don't let that put you off posting. I do it all the time.
Gone to a better place
  • #3,311
  • Aug 16, 2016 10:26am Aug 16, 2016 10:26am
Quoting Skeptic
I think there's unfilled supply at around the .8750 mark for swing trading. That's where I'm going to place my short. Edit: Of course my first post is dead-freaking wrong.
8774/9 is an important level.
you are close.
  • #3,312
  • Edited 11:32am Aug 16, 2016 10:46am | Edited 11:32am
Quoting smikester
{quote} Welcome to Forex Factory. Don't let that put you off posting. I do it all the time.
Not at all! Being wrong creates a learning opportunity. I'm trying to create more income for myself.
I'm glad I didn't take the trade at .8700. I honestly think price will return there.

Quoting longshot_nl
{quote} 8774/9 is an important level. you are close.
Well, there's that at least! ^_^
  • #3,313
  • Edited 6:01am Aug 17, 2016 1:46am | Edited 6:01am
Good morning,
now the market is totally blocked between 0.8663 and 0.8627.

Simply I suppose that the "big" gain will be done downward because we have no support until 0.8577.
I will wait the next hours in order to understand how the market will move

EDIT: white channel has blocked the down movement. Now it is possible to test again the support around 0.8630
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  • #3,314
  • Aug 17, 2016 2:17am Aug 17, 2016 2:17am
Quoting Devart
Good morning, now the market is totally blocked between 0.8663 and 0.8627. Simply I suppose that the "big" gain will be done downward because we have no support until 0.8577. I will wait the next hours in order to understand how the market will move {image} {image} {image}
was thinking the same thing about the 'block'.
todays pivot point is also at 8670.
but i have also gj and gu entries more down so i think i won't give it a try there.
not sure yet.
todays r1 is at 8698
  • #3,315
  • Aug 17, 2016 2:58am Aug 17, 2016 2:58am
Quoting longshot_nl
{quote} was thinking the same thing about the 'block'. todays pivot point is also at 8670. but i have also gj and gu entries more down so i think i won't give it a try there. not sure yet. todays r1 is at 8698
Hello,
why at 0.8698 ?
  • #3,316
  • Aug 17, 2016 3:51am Aug 17, 2016 3:51am
Quoting Devart
{quote} Hello, why at 0.8698 ?
standard pivot point calculation. i have an indicator.

http://www.pivotpointcalculator.com/
  • #3,317
  • Aug 17, 2016 5:34am Aug 17, 2016 5:34am
Quoting longshot_nl
{quote} standard pivot point calculation. i have an indicator. http://www.pivotpointcalculator.com/
Thank you
  • #3,318
  • Aug 17, 2016 6:16am Aug 17, 2016 6:16am
These is my point of view.

The upside movement seems very strong so I hyopotize that a pull back (down) could crushes in the yellow circle where there is the 38 % fibonacci (purple) and the upside channel that now is a strong support.

There is a strong suppor area (30 MN Timeframe beween 0.8625 / 0.8615.

The sell stop order wil be deleted in 7 hours by now if not triggered.

Right now the cross is moving around a very long term line (yellow line).

The trend seems down between today and tomorrow.

Let's wait for the US session in order if it will pull down this cross. In order to trigger the order we have to overcome the line that has stopped twice the down movement today (0.00 and 10.00 am ITALIAN TIME ---> for me now are 3.15 PM).

Ratio profit/loss 2:1

Ciao
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  • #3,319
  • Aug 18, 2016 2:19am Aug 18, 2016 2:19am
Pound is moving to the mark 0.85828. And will test the support line. I would start buying as soon as it comes to the resistance line.
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  • #3,320
  • Aug 18, 2016 4:39am Aug 18, 2016 4:39am
i try i buy here.

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