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Thread: Eur/gbp-strategy

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    Default Eur/gbp-strategy

    Agressive Strategy - OPEN Currency Strategy Entry Level Stop Limit 1 Limit 2
    EUR/GBP BUY/Long 0.6730 Open 0.6670 0.6840 0.7000

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    I didnt understand can you

    explain with charts please

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    forexit20
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    what is Agressive Strategy mean ?

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    forexit20
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    what is Agressive Strategy mean ?

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    Quote Originally Posted by MDunleavy View Post
    EUR/GBP
    We can notice mixed direction signals on indicators and ADX shows that the trend is very week if we only take them into consideration. On the other hand, according classic analysis we can see a descending channel alongside the pair's steady trading below 61.8% extension makes us expect the pair to continue the bearish move towards 0.8820 at least and then 0.8790.
    The easiest way to trade EURGBP....

    think of Energizer Bunny... going...and... going... and...going...

    This pair is a classic example of a trend-driven pair. Trends last for many days. So, look at hourly charts, trade with some 30 pip stoploss and more often than not, you win.

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    Daily and 4H: Last week's outlook for a bullish reversal was premature. After the break of downsloping trednline in the Daily, the market has been undecided whether it should followup through. Instead, the week progressed with a decline from 0.90 to 0.8850, breaking 0.8850 intermediate support. It is likely to close around 0.8830.

    This bearish signal is invalidating the bullish outlook for terminal wave “V”. It appears wave “IV” is not done yet. for the count to remain valid, the decline should not go lower than the 0.87 area, which is the end of wave “I”.

    The 4H time-frame is showing some continuation signals in the stochastic. The price action shows a break of 0.8850, and a near-term retest of it as resistance, which looks to be holding at the moment.

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