EURBGP makes history, easy short
Updated
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.
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 @ 0.8826Trade active
Added 2 lots short @ 0.8815Trade active
3 lots added at 0.8915Trade active
Still active - prepping for violent reversal.Trade active
Added 1 lot at 8972Trade active
Still holding and active - it's July 3rd, an important Gann date where moves culminate and trends terminate between July 3rd and July 7th.Trade active
added 2 lots at 0.9025Trade active
1/2 of position sold today - another 1/4 will sell @ 0.8467.Trade closed: target reached
1/4 sold at 0.8467, remainder of position (final 1/4th) sold at 0.8452.
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