captainquenta
Short

EURBGP makes history, easy short

OANDA:EURGBP   Euro / British Pound
EURBGP makes history, easy short
I’ve went back to 2000 and looked for any periods of time where the EURGBP has had more than 12 consecutive daily candlesticks where the Open was greater than the Close. Never. In fact, the most I found was 7. So this is a pretty extended move in time. And it’s a straight up parabolic rise as well. This is very much what Gann would have called a ‘blow-off’ move. Almost the entire move has been on lower daily volume (exception being the 21st).
The RSI and Composite Index are also at historical highs and showing similar structure in their peaks. This pair is bound for nasty mean reversion trade with at least a 50% retracement .
Trade active: Short @ 0.8826
Trade active: Added 2 lots short @ 0.8815
Trade active: 3 lots added at 0.8915
Trade active: Still active - prepping for violent reversal.
What go's up must come Down!!
+1 Reply
Is this set up still valid?
Reply
@gagikfx, Absolutely!
+1 Reply
gagikfx captainquenta
@captainquenta, thanks
Reply
With my luck, every time something is obvious for everyone to see then my stops are always taken out.
Reply
@lynton99, The thing is, it's not obvious to everyone ;-)
+1 Reply
lynton99 captainquenta
@captainquenta, Thats true.
+1 Reply
This one is A Big Winner!!!!!!
+1 Reply
@fxing, Thanks! :-)
+1 Reply
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