EUR/GBP

A great pair to be trading at the moment ,swing trading from the extreme moves ,this pair is so much in focus with Brexit news on an hourly basis most days ,if your trading this pair what setups are you using ,what views do you have on the pair as we move closer to the end game!

Algo pop on the 48 letters of no confidence vote in May ,very much news dependent swings be aware of news updates.

snapdragon1970 posted:
A great pair to be trading at the moment ,swing trading from the extreme moves ,this pair is so much in focus with Brexit news on an hourly basis most days ,if your trading this pair what setups are you using ,what views do you have on the pair as we move closer to the end game!

What do you have.in your chart, Bollinger bands with several standard deviation levels? How do you prevent the situation, when the prices are shooting over (or through) 2 std level? I mean one can be short, and predict prices turning from long to short. Instead from turning bearish prices continue advancing inthe long direction, and shoots through std 2 level, which serves as a stop ordrevel. Got the idea? I found any GBP pair too unpredictable, Abut maybe Ij just didn't get something right.

Sorry the question was for Kieran. I did not check my msg.

niceGLer posted:

snapdragon1970 posted:
A great pair to be trading at the moment ,swing trading from the extreme moves ,this pair is so much in focus with Brexit news on an hourly basis most days ,if your trading this pair what setups are you using ,what views do you have on the pair as we move closer to the end game!

What do you have.in your chart, Bollinger bands with several standard deviation levels? How do you prevent the situation, when the prices are shooting over (or through) 2 std level? I mean one can be short, and predict prices turning from long to short. Instead from turning bearish prices continue advancing inthe long direction, and shoots through std 2 level, which serves as a stop ordrevel. Got the idea? I found any GBP pair too unpredictable, Abut maybe Ij just didn't get something right.

The chart above is Bollinger Bands with moving Fib levels ,weighted moving average of 31 days ,price(HL/2 ,STD is a way to think of price movements only on a much bigger time frame like monthly and Q1. Ideally we want price to shoot as far as possible beyond its standard daily movements and set a stop a few ticks beyond it ,you will see this on the charts quite often traders will sit and wait for it ,what you are talking about is usually a movement around data and news where the price keeps going through 2 STD ,well the value has changed so the midpoint has to change too ,although if you apply a longer time frame you'll probably see its hit a historical level ,also you have to be price aware of what is fair value of the pair ,is it over or undervalued considering events ,that takes practice but once you get it you wait for that level and you nail it.This is just one method of trading .

This is with 12 days price instead of 31 ,as you can see its best fit, both short positions in profit.

Both shorts worked out well with 140 pips ,took awhile for it to unwind but we knew pound was getting pushed beyond fair value to undervalue then we saw support by lawmakers for May ,2 hours to the vote so this was a spec trade before the event ,London close reason why we bailed out

Here is my trade on it.

iconrex posted:
Here is my trade on it.

What platform is that with?

Two indicators of interest for you pro traders to check out.

Baltic dry index.
Manhattan sales.