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EURGBP has solid upside potential

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EURGBP has solid upside potential

 

We have triggered an intraday long trade in EURGBP on the IG signal centre this morning at 0.8725.

Capture.PNG

 

 

Looking to the daily chart, there is scope for some strong follow through buying with a bullish reverse Head and Shoulders noted. A break of 0.8900 would confirm the pattern.

eurgbp ig.png

In regards to the PIA analysis, no representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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Here is a link and system to help you improve these signals. Always use fundamentals  , you will get much better results.

 

The euro gbp has improved because of fundamental improvements.The Eurogbp looks good because of fundamental price drivers like this, something which technical analysis alone can not do.K I S S .

 

http://www.kitco.com/news/2018-02-02/UPDATE-1-European-bond-yields-rise-as-data-shows-strong-U-S-wage-growth.html

 

Cable  gets stronger when USD weakens or  when rates expectations improve. Cable has already priced in expected interest rates expectations.Euro fundamentals are improving, hopefully so this trade may take off.

 

https://community.ig.com/t5/General-Trading-Strategy/Advanced-forex-oil-and-crude-oil-system-Educational-puposes/m-p/21849

 

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I expect PIA must be well used to dealing with the more idiosyncratic members of the trading community, particularly the trolls and 'know it all's'. But perhaps you might have been hoping for a higher average on IG's own forum and we don't disappoint, alas. Take oilfxpro for example, he was a regular contributor on this forum till he took a much appreciated rest in June of 2016 and went to another forum for a year and a half. Unfortunately he was banned from there and returned here coincidentally just in time for the start of the 'Contributor of the Month' competition. Since then we have all been subjected to those amusing, idiosyncratic little ways, so at least you wont feel left out.

 

You may be tempted but don't get too side tracked with his 'profitable' strategies, for some reason he needs to change them every week and has been through literally dozens of versions in just the last 3 months alone.

 

As you can see he has done extensive research on google and found a mountain of information that only lacks verification but like a trooper will not let such a small inconsequence stand in his way.

 

So, in spite of it all do please keep up the good work.

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Hi Caseynotes

 

Really appreciate the feedback. We have been ‘around the block’ a fair few times

 

I personal only comment on other analytical views if I agree with them, or it has a tendency to come back and bite you.

 

Look forward to exchanging ideas with you

 

Have a great weekend

 

Ian

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Whilst I see the blue zone appears to be offering support , recent attempts to push price up have not been great. I watch but don't see much in this one atm. Much better trades elsewhere                                                Capture eg.PNG

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Casey 

 

Can you please not destroy anymore threads , you yourself can not and has never made one advance call , I already requested moderators to provide an Ignore member facility.

 

At least the OP is giving some advance trade analysis, which is far better than all your  posts.I am trying to add value to his signals and being constructive.

 

 

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Here is a price action chart on eurgbp. All this after the event .Now after the event this good price action, but I would not have placed the trade before NFP ,as a 25 pip stop would be taken out , instead would have gone for a weekly call an option on fx.

 

eur gbp.jpg

 

 

 

 

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A display of sheer pomposity and unfounded arrogance Is not "adding value" or "being constructive".

 

When you write  "Here is a link and system to help you improve these signals. Always use fundamentals  , you will get much better results" you are conveying the pretension that you have a higher level of understanding of TA  and fundamentals than the recipient which is of course laughable not to mention just plain rude.

 

You have already told us you tried using TA for 10 years and only ever lost money and you now resort to what appears to be a coin flip options strategy. If you really want to convince people you have a 'profitable system' then instead of posting 'snippets' of the occasional wining trade cut out from a table or spreadsheet you could take a lesson from PIA and post a performance history as they have done every month for nearly 10 years.

 

pia1.PNG

 

 

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These returns means nothing , there is no audited certified accounts to prove these analysis, were actually traded. Until you can provide these, back tested results by service provider are useless, unless you can provided trade by trade proof.There is no proof provided.We don't know if they are hiding any losses.

 

Most of the analysis are providing just a road map, trade them and show us certified audited accounts. Until then these discussions are meaningless

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Here is how a trader trades eurgbp

 

 

  • Trading EUR/GBP – Compulsory filter
  • Long positions – must have EUR/USD trending higher and GBP/USD must be trending lower.
  • Short positions – must have EUR/USD trending lower and GBP/USD must be trending higher.
  • EUR/GBP is a noisy pair with low volatility and trends. 20 pips move on EUR/GBP is noise because Cable is noisy.
  • Trending definition: prices must be above mas for longs or below mas for shorts on 30 MIN (with slope, channel and trend line).
  • Do not open new position after 60 pips made in one day.
  • Always use eur usd and Gbp usd  supports , resistances , trend lines and channels   to trade  eur gbp.

 

 

 

eur gbp eurusd and gbp usd.jpg

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Here are charts on eurgbp  with option trades that i bought on eurgbp.  The free indicator I use does all the analysis.

 

There should be 3 charts , cable , eur usd and eurgbp. Both cable and eur are in uptrend

 

eur gbp.jpg

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Stalling close to the previous high. Bespoke support is seen at 0.8730. With this being close to the trend of higher highs, and a possible bullish ascending triangle, our play this week is buying dips.

 

EURGBP 2.png

In regards to the PIA analysis, no representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result.

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My own reading of the chart showed a trade, using very simple methods.

 

 

It is making pips.

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still waiting                            Capture eg.PNG

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I see it's IG trade of the week,   my chart UPDATED ;-)   Capture eg.PNG

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This is Joshua's second go at this pair, two weeks ago was unfortunate to get stopped out almost immediately on a long trying to catch a lift up off the baseline but got in late, has now decided to go the other way and short from the top of the pattern and targeting the up trendline. Not unreasonable though I would prefer to wait for a break of the pattern as it coils tighter and there is good space both above and below.

 

EURGBP(£)Daily.png

 

 

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Euro strong today has pushed price to the top of the pattern but still short of a break. Still playing to the PIA call and Joshua's original call but not looking good for the 'Trade of the Week' short.

 

EURGBP(£)Daily.png

 

 

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