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Thread: EUR.GBP

  1. #1
    action-reaction arco's Avatar
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    Default EUR.GBP


    One of my systems has triggered a
    short on the Eur.Gbp .
    I would prefer to see dual confirmation,
    however there is often a decent day trade
    available from this signal.

    Please note. My intention is not to offer any form of investment or trading advice whatsoever. The system I have detailed above could easily fail miserably at any point. If you choose to follow this system be aware that you do so entirely at your own risk and that I cannot be held responsible for any losses incurred.








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  2. #2
    action-reaction arco's Avatar
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    Update.
    Nice fall so far on this one since inception and has
    been up as low as .6697 from open 17/3 @ .6767

    2nd and 3rd signal have kicked in now, so looking
    for a little more, and as usual IMO its always good
    to take 100 points profit on 50% of the position if
    available, letting the balance ride with a trailing stop.






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  3. #3
    action-reaction arco's Avatar
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    Update.
    Continued fall on this one since inception @ .6767
    and has been up as low as .6652 from open 17/3

    In these situations IMO its always good to take the 100 points
    profit on 50% of the position and let the balance ride
    with a trailing stop. (Max 115 so far)




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  4. #4
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    Update.
    Continued fall on this one since inception 17/3
    @ .6767 and closed lower overnight at .6644

    Total move 123 pips so far with 100 already in the bag.

    Possible support area just ahead so keeping awarness on that.

















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  5. #5
    action-reaction arco's Avatar
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    As I mentioned yesterday the action was
    around a possible support area, and that
    proved to be the case with a long white.

    So the stop was hit just above CBL2
    @ .6700 for 67 pips on the 50% balance,
    and 100 pips previously from the first 50%





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  6. #6
    Guru peat's Avatar
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    a gartley here
    For clarity, nothing I say is advice....

  7. #7
    Guru peat's Avatar
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    Default

    auto closed +15
    For clarity, nothing I say is advice....

  8. #8
    action-reaction arco's Avatar
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    >>>>>>>>>>>

    Here's one on the radar for a possible turn.
    BF potential reversal zone.

    Its fighting the recent trend so scalping may be the
    way to go initially.

    arco
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  9. #9
    Guru peat's Avatar
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    currently short +52 !

    but yeh on the 3 hour its looking oversold so will close out....

    should've held the original one that only got me 15 missed out on 50 along the way....
    For clarity, nothing I say is advice....

  10. #10
    action-reaction arco's Avatar
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    >>>>>>>>>

    Eur.Gbp gave a maximum of circa 40 pips for scalpers yesterday, and overnight the action has headed south and may be forming a Gartley/BF which could give further scalping opportunities.
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  11. #11
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    Update Posts #8 and #10

    The little pattern mentioned yesterday gave upto another 80 pips for
    eagle eyed scalpers, or dozing day traders.

    The action has crossed the old support circa 7850, so there may be more mileage yet. (Change of polarity?)

    GTA - arco
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  12. #12
    action-reaction arco's Avatar
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    Good Morning

    Updating post #8


    The green BF has performed extremely well giving a max of +191 pips, but may start to run out of steam now as it approaches the PTZ........and after such a sterling flight.

    GTA - arco
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  13. #13
    action-reaction arco's Avatar
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    I've heard it said that Eur.Gbp leads Euro. I should do some back-checking.

    I just wonder if this is Gartley forming along the Kumo supportive top edge. Chikou is through on the H4 but often it will test the PA before moving on, so we could see the PA move towards and into the grey box zone. That may be the point at which Mr Gartley performs his magical trick. So now what to do - risk a short long, or wait for a long short
    .

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  14. #14
    action-reaction arco's Avatar
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    Here we are then. Performed as expected

    I put a TP on at +60 which just missed by 5 pips. :mad:
    Currently +14, but may have to be satisfied with half a loaf. I'll see what it looks like on Monday open

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  15. #15
    action-reaction arco's Avatar
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    Hard to judge its direction, so I've closed this at +8
    Should have had the TP on at 50 not 60
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