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EUR/GBP - What a great pair to trade!

  • #3,321
  • Aug 26, 2016 4:26am Aug 26, 2016 4:26am
The trend is UP but there is a possibiity to test again the 0.8490 in order to form a double minimum and confirm the end of wave 2
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  • #3,322
  • Aug 27, 2016 12:19pm Aug 27, 2016 12:19pm
maybe 0.8622, that is 61,8% of retracement
or maybe will retest the LLOW
I AM NOT SO SURE THETREND IS UP
  • #3,323
  • Aug 29, 2016 4:21am Aug 29, 2016 4:21am
Quoting Devart
The trend is UP but there is a possibiity to test again the 0.8490 in order to form a double minimum and confirm the end of wave 2 {image}
EDIT: I have closed the trade 3 hours ago because the direction is not clear.

Now we could be in a trinagle or in a flag (maybe bearish).
I will wait the next hours in order to have (I hope) a clear view.

Regards
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  • #3,324
  • Aug 30, 2016 9:03am Aug 30, 2016 9:03am
Quoting Devart
{quote} EDIT: I have closed the trade 3 hours ago because the direction is not clear. Now we could be in a trinagle or in a flag (maybe bearish). I will wait the next hours in order to have (I hope) a clear view. Regards {image} {image}
EDIT 2: WTF
  • #3,325
  • Aug 31, 2016 3:25am Aug 31, 2016 3:25am
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  • #3,326
  • Aug 31, 2016 3:32am Aug 31, 2016 3:32am
The risks are at .8446 and .8400 - both important weekly levels. But a trade off of .8500 or thereabouts with a 20 pips stop loss would be a good R : R candidate.
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  • #3,327
  • Aug 31, 2016 3:34am Aug 31, 2016 3:34am
.8465 is a stopping point and good place to enter on pull backs...
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  • #3,328
  • Aug 31, 2016 3:45am Aug 31, 2016 3:45am
And .8290 would be a good target:

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  • #3,329
  • Aug 31, 2016 9:48am Aug 31, 2016 9:48am
Hi smikester, Wondering if you have found a way to keep the Donchian Indy from sending signal, after signal to the experts folder. I can't get it to stop. I must be missing something... Pippo
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Vincit qui se vincit.
  • #3,330
  • Aug 31, 2016 11:51am Aug 31, 2016 11:51am
Quoting Pippopotamus
Hi smikester, Wondering if you have found a way to keep the Donchian Indy from sending signal, after signal to the experts folder. I can't get it to stop. I must be missing something... Pippo {image}
Hi Pippopotamus. I'm not sure which Donchian Channel indicator you are using and in any case I am definitely not the person to ask for MT4 support. Sorry I can not help. I tend to use DC's for levels rather than trades.
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  • #3,331
  • Aug 31, 2016 11:52am Aug 31, 2016 11:52am
You can see what happened here:

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Market the short at .8500 and ducked out at about 1 : 1. Time to be careful now.
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  • #3,332
  • Aug 31, 2016 12:17pm Aug 31, 2016 12:17pm
Quoting smikester
{quote} Hi Pippopotamus. I'm not sure which Donchian Channel indicator you are using and in any case I am definitely not the person to ask for MT4 support. Sorry I can not help. I tend to use DC's for levels rather than trades.
Thanks for your reply. Green pips to you!
Vincit qui se vincit.
  • #3,333
  • Sep 1, 2016 6:29am Sep 1, 2016 6:29am
- 0.8402 may ended the selling for now or it is the bottom.

- 0.8435 will stall bulls for a while.

- Lets us see.
  • #3,334
  • Sep 1, 2016 7:22am Sep 1, 2016 7:22am
Quoting Ziko9o8
- 0.8402 may ended the selling for now or it is the bottom. - 0.8435 will stall bulls for a while. - Lets us see.

if it will be rejected again @0.840x I will close all my shorts on this pair, although my primary target is/was 0.8350
  • #3,335
  • Sep 1, 2016 12:56pm Sep 1, 2016 12:56pm
Quoting joinup
{quote} if it will be rejected again @0.840x I will close all my shorts on this pair, although my primary target is/was 0.8350
- Great strategy, GL.

- For me, if more to the downside, we could see 0.8175
  • #3,336
  • Edited 1:08pm Sep 1, 2016 1:07pm | Edited 1:08pm
Quoting Ziko9o8
{quote} - Great strategy, GL. - For me, if more to the downside, we could see 0.8175
closed all at 0,8394, waitiing for another sell opportunity.
  • #3,337
  • Sep 2, 2016 2:38am Sep 2, 2016 2:38am
I bid that we are at the end of wave 2 (0.87xx-->0.838x) and its is starting the wave 3. (My tp is not the top of wave 3!!!!).
I have not pox to post trend lines, sup, res, etc but 0.838 is a good support (78% or 87% Fibonacci of wave 1).
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  • #3,338
  • Sep 2, 2016 3:27am Sep 2, 2016 3:27am
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Tight range prior to UK news. I like these.
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  • #3,339
  • Sep 3, 2016 3:19am Sep 3, 2016 3:19am
Hello,
I am bull for EurGbp.
The long term TP that I have inserted must be reduced of 200 pips I suppose. Next week I will see.
However some time ago I suppose that now we are in a wave 2 of a new elliot's movement.
Maybe it is correct maybe not, however looking at the strengh of the market (strong bull on very long term) and looking at the little correction ABC (between early days of july to early days of august), I suppose that the new elliot movement is not started yet and we still are in the correction ABC (red circle).
This correction could be RUNNING CORRECTION. In this king of correction the B is higher of 5 and C is higher of A.
I have inserted a SL below A but I will check in the next week because the correlation with GBPUSD on time frame > 1 days is beyond 90% and GBPUSD is near a very very very long term resistence that if overcame could bring GbpUSd UP and EurGbp DOWN. ---> this correlation can be keep or delated in 8 september (minimum bid rate Eur) and 15 sept (GBP).
So we could be in a sideway market for septemeber until the FOMC (USD, 22 sept)
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  • #3,340
  • Sep 8, 2016 12:23pm Sep 8, 2016 12:23pm
Quoting Devart
Hello, I am bull for EurGbp. The long term TP that I have inserted must be reduced of 200 pips I suppose. Next week I will see. However some time ago I suppose that now we are in a wave 2 of a new elliot's movement. Maybe it is correct maybe not, however looking at the strengh of the market (strong bull on very long term) and looking at the little correction ABC (between early days of july to early days of august), I suppose that the new elliot movement is not started yet and we still are in the correction ABC (red circle). This correction could...
Many thanks indeed for your analysis. Since the referendum (when the Euro came off much better than the Pound) it has become obvious that this move has stuck and will probably continue.

If we give the rate an arbitrary range of .6000 in 2000 to .9600 in 2008 that means since the vote the Pound has lost 30% in this range against the Euro in less than 3 months.
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