EUR.GBP

[arco]

Break of recent resistance and DT line.

[arco]

Well that last little run north gave circa
450 pips for medium term holders with nerves of steel.

Now the current chart is creating a near picture
perfect Gartley with the final leg recently reversing
off the old uptrend line.

Of course Gartleys have the ability to continue forming further
into Butterflies, catching out early participants on the wrong foot.

However, a modest entry approach using a 1,2,3, Ross Hook, or
similar technique can often prove to be fruitful.

You can read much more about it here with descriptive charts.

http://forum.tacticaltrader.com/view...=desc&start=25

arco

[arco]

EUR.GBP has just almost kissed the
Gann Level at 6897 the area of which
may repel the advance in the short term.

It could give a risky short against
the main trend but one would need to
see definate reversal signals on multiple
time frames.

[slam]

Looks like this has confirmed the reversal imo
any other thoughts?

[arco]

Yes Slam

Took a small short term swing trade
position at 6881 (currently + 15)
........fighting the main trend tho.

Possible support circa 6836 IMO

arco

[arco]

quote:23/5 possible support circa 6836

o/n low 6835 - closed at 6838........+46

......... trailing stop

[arco]

That was a powerful move through what
should have been a substantial Gann hurdle.

Next support levels 6775, 6744

Current position short from 6881 = + 106

Tight trailing stop.

[arco]

Closed at 6728 which is just below
the Gann Level I mentioned yesterday.

IMO there could be some major hesitation at 6714.

Still hanging in.......+153 with tight stop.

[slam]

I'm still in this one too arco
+136 which is nice on this pair
wouldn't be supprised if the resistance/support at 6714 gets taken out with the way things are atm.
If so, next stop 6650's[:0]

Cheers
slam

[arco]

Low printed at 6717 which is pretty close to my
figure 6714......so care needed here.

+157 at close.