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EUR/GBP - What a great pair to trade!

  • #3,361
  • Sep 20, 2016 5:06am Sep 20, 2016 5:06am
Oversold with HnS forming.???
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Without having an understanding of down, you can never appreciate up.
  • #3,362
  • Sep 20, 2016 5:23am Sep 20, 2016 5:23am
Quoting anonymousey
Oversold with HnS forming.??? {image} {image}
Well,
I see that Volume are increasing from yesterday to today for Europe session (about US I do not know).
Usually more volume facilitate the direction or the trend
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  • #3,363
  • Edited 7:37am Sep 20, 2016 7:09am | Edited 7:37am
Quoting smikester
{quote} Is this MT4?
yes.. mt4 account. i chatted with oanda and they told me to mail them instead without helping me.
still no response at all on my email.
my other positions are unaffected, just eurgbp.
i now have lost 4 times the amount i risked.
i wonder if they are honest enough to close my position at the stop loss value.
  • #3,364
  • Sep 20, 2016 7:39am Sep 20, 2016 7:39am
Quoting longshot_nl
{quote} yes.. mt4 account. i chatted with oanda and they told me to mail them instead without helping me. still no response at all on my email. my other positions are unaffected, just eurgbp. i now have lost 4 times the amount i risked. i wonder if they are honest enough to close my position at the stop loss value.
I had the same on one of my accounts. Must have been a serious failure.
Gone to a better place
  • #3,365
  • Sep 20, 2016 8:14am Sep 20, 2016 8:14am
Quoting smikester
{quote} I had the same on one of my accounts. Must have been a serious failure.
anyway its a libra pattern at current price.
obviously i will miss it.
  • #3,366
  • Sep 20, 2016 11:02am Sep 20, 2016 11:02am
I'm going to short this pair
  • #3,367
  • Sep 20, 2016 6:37pm Sep 20, 2016 6:37pm
Quoting anonymousey
Oversold with HnS forming.??? {image} {image}
So far So good.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURGBPWeekly.png Size: 36 KB
Click to Enlarge Name: EURGBPH1.png Size: 29 KB
Without having an understanding of down, you can never appreciate up.
  • #3,368
  • Sep 21, 2016 1:12am Sep 21, 2016 1:12am
At the end I have closed all the positions at 0.8605 due to Us session that was not convinced.
I suppose that the range of trading for today (eur session) will be between 8575 and 8624.
Below 8575 I do not know where it could go.
In the late hours of today will be released the FOMC and FFR so everything is possible. I am to close all position before than these releases.

If you consider the GbpUsd that is total negative correlation with EurGbp.
GpbUsd is decreasing the volume that has moved it from 1.3470 to 1.29xx (where we are now) --> infact you can see that we are near a support.

IF FFR will be increased (I do not think will happen) or will stay the same the trend for EurGbp is UP, for GbpUsd is down
If FFR will be decreased (It is in the opposite idea Of Yellen so I suppose it is quite difficult [impossible is nothing]) , EurGBP DOWN, GBPUSD UP, but I dunno what could be the target
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  • #3,369
  • Edited 2:14am Sep 21, 2016 1:27am | Edited 2:14am
Quoting Devart
At the end I have closed all the positions at 0.8605 due to Us session that was not convinced. I suppose that the range of trading for today (eur session) will be between 8575 and 8624. Below 8575 I do not know where it could go. In the late hours of today will be released the FOMC and FFR so everything is possible. I am to close all position before than these releases. If you consider the GbpUsd that is total negative correlation with EurGbp. GpbUsd is decreasing the volume that has moved it from 1.3470 to 1.29xx (where we are now) --> infact you...
Yes I did similar but have buy stops at .8601. I don't think the carnage is over for the Pound. City banks talking about moving from London. And who would blame them? Computers don't care where you are situated. Robert Kapito on BBC news this morning talking about "unintended consequences" of Brexit and he doesn't know of any London financial institutions that are not looking at real estate elsewhere.
Gone to a better place
  • #3,370
  • Edited 2:26am Sep 21, 2016 2:14am | Edited 2:26am
Quoting smikester
{quote} Yes I did similar but have buy stops at .8601. I don't think the carnage is over for the Pound. City banks talking about moving from London. And who would blame them? Computers don't care where you are situated.
I am almost convinced that all the crosses will gain against Gbp but in order that this happens the interest rate of USD and EUR must be increased (about EUR I am very doubtful about it) and GBP must be decreased in order to facilate the UK economy. Without interest rates changing I do not know if GBP could really lose value.
I carry over verbatim what I read on a newspaper some time ago.
Before Brexit everyone, tv, paper, Facebook and peppa pig spoke about the damage that UK would have suffered if the brexit would have happened.
Now none (at least here in Milan) is speaking about brexit because the UK is going better without Euroland and this is not good for other countries in europe that want to move out of the cage. So this is in my opinion the reason behind these losses of GBP

In GbpUsd (we will have the answer today) and EurGbp there are only two possibilities:

  1. balance (like now) that will last for severl weeks
  2. unbalanced

  • #3,371
  • Sep 21, 2016 2:51am Sep 21, 2016 2:51am
Quoting smikester
{quote} No idea. It's an uptrend which started at the end of last year and accelerated with the referendum mess. I wouldn't want to be short. Especially with an offline broker... LOL
It didn't break above 0.8630 after all, but you're right, now is not the time for short positions. Today's news could push it above that level.
  • #3,372
  • Sep 21, 2016 6:05pm Sep 21, 2016 6:05pm
My view for EurGbp

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  • #3,373
  • Sep 21, 2016 8:45pm Sep 21, 2016 8:45pm
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  • #3,374
  • Sep 21, 2016 11:47pm Sep 21, 2016 11:47pm
I agree with both the above posts. It's in an uptrend. Nice H&S forming. The diamond pattern shows indecision. The rising trend line on 4 hour to contend with. I'm currently flat.
FF journal: Peaks and Troffs
  • #3,375
  • Edited 9:28am Sep 22, 2016 9:15am | Edited 9:28am
Last week's solid close at .8574 is still providing support for this stellar pair. If I see a break of this with a solid close, then I will short with an initial target of .8350, being the right shoulder of the venerable head and shoulders formation. If not, expect your beloved head and shoulders to fail and the uptrend - so strong after brexit - to continue.

Good trading, you lucky Eur/Gbp traders.
Gone to a better place
  • #3,376
  • Sep 22, 2016 10:07pm Sep 22, 2016 10:07pm
Looks like it is now forming a broadening diamond on 4 hour.
It's a great pair alright. Very, very rare for me to trade E/$ or G/$, but E/G is one of my favourites.
FF journal: Peaks and Troffs
  • #3,377
  • Sep 23, 2016 2:18am Sep 23, 2016 2:18am
Attached Image (click to enlarge)
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usd
  • #3,378
  • Sep 23, 2016 2:20am Sep 23, 2016 2:20am
I'm playing it to the short side but my worry is everyone is looking at that potential daily H&S so it will probably do the opposite!
  • #3,379
  • Sep 26, 2016 2:08am Sep 26, 2016 2:08am
Hello guys,
On this cross I am still up.
However considering 2 biggest sessions (European, USA) both are in GAP
- europen respect to friday
- us respect to thursday

If both will keep during the day the possibilty to move up over 8730 are very high.
If the Europen gap will be cover the possibility to test a part of US gap are real.
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  • #3,380
  • Sep 26, 2016 8:38pm Sep 26, 2016 8:38pm
Double top on 4 hour chart. I've taken a short with a tight stop and will adjust closer to the rising trend line.
FF journal: Peaks and Troffs
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