EURGBP: (1H) Present for Mick and SoulTrader2004

[MickMason]

Originally Posted by Soul-Trader2004

The length of the doji

Doji? Nah, they're bollox

[Soul-Trader2004]

Originally Posted by Trader02

2 more things Soul:

EURGBP on 1H

I'm in the green again on the current short. entry @ 6698 and just placed a stop over the top at 6717.

Question is, should I move the stop right away now to 6696 or should I just leave it where it is?

My logic for wanting to move it to 6696 is that EURGBP has made a new closing low on 1H.

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Secondly, you stated that since this is a countertrend play ...... use tight stops.

Agreed, but my reason for getting into this pair in the first place was for the continued DOWN -- soon to come (IMHO) based on the DAILY timeframe.

I've been focussed on 1H and 15-min. only for timing purposes to catch this supposed intermediate top.

So my aim was to catch the next downleg.

If my thinking is flawed, kindly correct ...

Thanks

i wouldnt trade eurgbp if you paid me - total waste of time is that pair.

if you are looking to get into the swing down on the daily then why are you moving stops based on the 1 hour? - if you are trading the daily you move stops on the daily - if you are on the 1 hour then you move stops on the 1 hour or lesser charts - which is it?

In any case i would be going long on eurgbp if it were worth a piece of snot and a baloon not short, but that's just me

[Soul-Trader2004]

pps - if i were daft enough to be short my stop would be at 6697 plus spread because it looks like a crap position

[4xis2ez]

Originally Posted by Soul-Trader2004

pps - if i were daft enough to be short my stop would be at 6697 plus spread because it looks like a crap position

Sounds like something a newbie would do.

[Soul-Trader2004]

crap position is a crap position newbie or otherwise

[4xis2ez]

Eurgbp dropping like a rock at .6688. Perhaps it will hit my limit in the next 6 months or so.

[Trader02]

Originally Posted by Soul-Trader2004

i wouldnt trade eurgbp if you paid me - total waste of time is that pair.

if you are looking to get into the swing down on the daily then why are you moving stops based on the 1 hour? - if you are trading the daily you move stops on the daily - if you are on the 1 hour then you move stops on the 1 hour or lesser charts - which is it?

In any case i would be going long on eurgbp if it were worth a piece of snot and a baloon not short, but that's just me

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Thanks.

Tell me more. No decent trends, too many sideays moves, etc. -- why? Sames applies to EURCHF, GBPCHF etc?

I'm fuzzy in this area regarding stop placement. All I'm trying to do is to time the reversal for a daily chart play. Until the move actually gets underway I don't want to incur a big loss in trying. Once it gets underway, I still want to use the 4H/1H to get out of segments. What do I mean? When 4H shows signs of a correction, I use the 1H to time the exit.

Just using a Daily stop would be a larger pip loss -- hence this method.

In a few days we will know whether my expectation of a nice, big juicy continuation downleg is correct or not. If there is not to be any downleg, I am definitely NOT interested in going LONG.

[Trader02]

Soul, I realize there may be more to "EURGBP is snot, don't bother trading it"
so let me ask you,

besides GBPUSD & EURUSD, can you state any other pairs that you consider good trading pairs. (for small & large timeframes)

Specifically avoid which ones?

Thanks.