EUR/GBP
Member Since Sep 12, 2015
1948 posts
Feb 26, 2017 at 20:56
'In the days ahead, a few upcoming data releases are likely to catch traders’ collective attention and drive the Euro. The second reading of Q4’16 French GDP, due out on Tuesday, could be fodder for the elections. Perhaps more directly related to policy, preliminary February German inflation and Euro-Zone inflation data, due out on Wednesday and Thursday respectively, may serve to cushion the Euro. Signs that inflation is returning to the region’s largest economy (and the region more broadly) may serve as support for the idea that the European Central Bank won’t loosen its policy further at said time'.
"They mistook leverage with genius".
Member Since Dec 11, 2015
1487 posts
Feb 27, 2017 at 12:26
snapdragon1970 posted:
'In the days ahead, a few upcoming data releases are likely to catch traders’ collective attention and drive the Euro. The second reading of Q4’16 French GDP, due out on Tuesday, could be fodder for the elections. Perhaps more directly related to policy, preliminary February German inflation and Euro-Zone inflation data, due out on Wednesday and Thursday respectively, may serve to cushion the Euro. Signs that inflation is returning to the region’s largest economy (and the region more broadly) may serve as support for the idea that the European Central Bank won’t loosen its policy further at said time'.
Hopefully that will finally end the EUR/GBP range, it’s very frustrating.😕
Member Since Sep 12, 2015
1948 posts
Feb 27, 2017 at 13:33
I'm only trading extremes and some scalping, more volatility to come with a possible Scottish vote and EU citizens rights on Brexit.
"They mistook leverage with genius".
Member Since Dec 11, 2015
1487 posts
Feb 28, 2017 at 11:49
I have another short-term long, TP is at 0.8550.
Member Since Sep 12, 2015
1948 posts
Feb 28, 2017 at 12:09
mlawson71 posted:Looks like we still in the up trend for now, 85250 mean price
I have another short-term long, TP is at 0.8550.
"They mistook leverage with genius".
Member Since Sep 12, 2015
1948 posts
Feb 28, 2017 at 14:16
Just gone short eur/gbp on sign of weakness ,TP at 85100 with further downside possible
"They mistook leverage with genius".
Member Since Sep 12, 2015
1948 posts
Mar 01, 2017 at 13:27
I'm short at 85500 it looks like we may get some weakness.
"They mistook leverage with genius".
Member Since Sep 12, 2015
1948 posts
Mar 01, 2017 at 15:11
Got knocked out of that last trade, to busy typing on another blog missed the dip, looks like an up trend at the moment although we had large engulfing bars at 2.35 ,we might get some downside coming close to London close or 3.30.
"They mistook leverage with genius".
Member Since Dec 11, 2015
1487 posts
Mar 05, 2017 at 12:49
The market closed at a very distinct double top at 0.8640, I think next week it will drop again. The range isn’t over yet.
Member Since Sep 12, 2015
1948 posts
Mar 05, 2017 at 16:00
Finished the week with a nice profit on eur/usd and eur/gbp ,might go short on eur/usd depending on news some German PMI on Monday. On eur/gbp 086280 needs to hold to go higher , yes it did test the previous high 86400 which is encouraging ,I try to ignore closing prices as they can give a deceptive view.
"They mistook leverage with genius".
Member Since Nov 21, 2011
1718 posts
Mar 06, 2017 at 07:42
Zoom out... I wouldn't call this a double top.
Range isn't over only if market shows it.
Due to recent up move, a daily close above 0.8650 would open the door for significant up trend.
The Daily W Pattern could be in formation if so.
Also notice 90% traders are short.
I'm ready to buy if we break above.
Range isn't over only if market shows it.
Due to recent up move, a daily close above 0.8650 would open the door for significant up trend.
The Daily W Pattern could be in formation if so.
Also notice 90% traders are short.
I'm ready to buy if we break above.
Attachments:
Member Since Sep 12, 2015
1948 posts
Mar 06, 2017 at 10:18
What would you call it if its not a double top? Its a bit soon for the move higher ,wait till we get closer to the 15th.
"They mistook leverage with genius".
Member Since Sep 12, 2015
1948 posts
Mar 06, 2017 at 11:09
The break out was around 086670 on the daily chart going back to 29/12 ,it broke through this level earlier this would make it the new level to pass now 86690.
"They mistook leverage with genius".
Mar 06, 2017 at 12:50
Hello,
EUR/GBP - Very nice hammer on 4H in conjunction with resistance around 0.8640 may looks good reason for starting to establish new short positions. On the other side, the market looks is pushing up and maybe test on the today's high 0.8670 would appear.
Nevertheless, sitting aside from the market is also a good position :)
EUR/GBP - Very nice hammer on 4H in conjunction with resistance around 0.8640 may looks good reason for starting to establish new short positions. On the other side, the market looks is pushing up and maybe test on the today's high 0.8670 would appear.
Nevertheless, sitting aside from the market is also a good position :)
Member Since Dec 11, 2015
1487 posts
Mar 06, 2017 at 12:53
@CrazyTrader
I was seeing a double top on the 1-hour time frame. Often such patterns are a prelude for a short-term retracement. Sorry, I should’ve specified. Either way, it’s not a double top anymore, the pair climbed above it.
I was seeing a double top on the 1-hour time frame. Often such patterns are a prelude for a short-term retracement. Sorry, I should’ve specified. Either way, it’s not a double top anymore, the pair climbed above it.
Member Since Sep 12, 2015
1948 posts
Mar 06, 2017 at 14:17
Nothing interesting happening at the moment ,might get some better direction at the US open, eur/usd still stuck around 06000 also .
"They mistook leverage with genius".
Member Since Sep 12, 2015
1948 posts
Mar 06, 2017 at 15:21
Watching Gopro price I am a buyer at 8.0 if we get near that price, upside value 10.00
"They mistook leverage with genius".
Member Since Sep 12, 2015
1948 posts
Mar 06, 2017 at 19:12
Deutsche Bank another trade I went long from 17.50 ,both are playing out in the right direction.
"They mistook leverage with genius".
forex_trader_252244
Member Since May 26, 2015
112 posts
Mar 06, 2017 at 20:35
Analysts at Commerzbank explained that EUR/GBP has eroded its 5-month downtrend and they will head to the side lines as they suspect that they will see further near-term strength. 'The break higher has introduced scope to the Fibo resistance and the recent high at 0.8852/53. 'We assume that .8852/53 is a short-term top for the market. Very near term we note 13 counts on the 60 and 240-minute charts and will attempt small shorts very near term.'
Member Since Nov 21, 2011
1718 posts
Mar 07, 2017 at 08:00
@mlawson71 Well, That's because double top/bottom must be checked on daily timeframe.
Now, market is about to close around 0.8650 level as expected
I entered Long... hopefully I can add trades later on.
Notice that 92% traders are short.... Better to be on the opposite side with current wind on the back.
Now, market is about to close around 0.8650 level as expected
I entered Long... hopefully I can add trades later on.
Notice that 92% traders are short.... Better to be on the opposite side with current wind on the back.
