Is it time now? EUR/GBP….uhm….

Posted on March 30th, 2008 in Trading Journal

I decided to have a look at EUR/GBP as my friend, Jay , the lonely trader is looking at short side. I have a different opinion this time (Anyway, we might be looking at different time frame). In fact, I am looking at potential long trade. I feel there might be another run of bull. And generally, I still don’t see a bullish GBP coming. Let’s see how it works out.

Here is the ….. CHART!

Here is the….Trend Score! We are looking at a strong uptrend at the moment.

About this tool

From the desk of Tradergav.com

Tags: Forex Blogroll, FX, Trading Journal

IDF Minister

gav: LOL...regretfully, i think ur right...i'll spend the night drinking and listening to a little luther vandross...that always helps when i'm hurting

IDF Minister

geez! jay must really be mad...i came out of the closet, and he didn't even notice

Gav

John: I guess, he hates you....LOL

john

gav: i'm just messing with jay, and letting him know we still love him

Israeli Defense Force Minister

jay: we still love you!

Gav

John: LOL...now you are the Israeli Defense Force Minister..

Israeli Defense Force Minister

jay: we still love

jay

haha, i was wrong. it wasn't the asian close at all...it was actually around the middle of the session! what you need is a web-enabled phone that you can trade from. then you won't resent the man so much when you miss signals. and those paychecks just add more capital to your account so that the day when you do go full time is closer. (you're prolly closer than me...i'm still five years away.)

big barrier at 0.8. my feeling is that specs will try to front-run the level so if 90 doesn't hold, a long looks even better. two big levels already gave ground today without much resistance -- 55 and 65.

jay

did ya trade it? or did ya just sit there with yer hands under yer bum? you coulda made money off of the 7900 handle today on the asian close. what a beautiful move. quarter-end buying from banks into the close today propped this bad boy up nicely. alas, no profit taking. :(

vols are at all time highs, which means this pair still has room to run. 0.8000 barriers may not hold into the fix, but my PSL is above at 0.8060 -- we'll see...my time horizon is longer than usual for this trade and my bet size is smaaaaallish.

good luck man.

Gav

Man, I can't believe I was working for my day job until 10pm Melbourne Australia time today. That's crap!. :( And when I got the chance to open my chart (that's the time I read your comment), it was too late! Well....not my day, I guess

Anyway, I am looking at 0.8 as a resistance level. Let's see .

blog comments powered by Disqus

Subscribe to our feed
Rules & Quotes
“Losses make the trader studious - not profits. Take advantage of every loss to improve your knowledge of market action.”

Time tested trading rules
Now Reading

My Trading Library

My netvibes page
March 2008

M T W T F S S

« Feb Apr »

1 2

3 4 5 6 7 8 9

10 11 12 13 14 15 16

17 18 19 20 21 22 23

24 25 26 27 28 29 30

31
Categories
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 Unported License.
Disclaimer

tradergav.com and the author is NOT an investment,trading, legal, or tax advisor, and none of the information available through tradergav.com or social networking medias such as Facebook/Twitter by the author is intended to provide tax, legal, investment or trading advice or recommendations.

Although I do work as an affiliate for Elliott Wave International, I have followed Bob Prechter's work prior to that and am confident in the quality of his products and services.