EURBGP makes history, easy short
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 @ 0.8826
Trade active:
Added 2 lots short @ 0.8815
Trade active:
3 lots added at 0.8915
Trade active:
Still active - prepping for violent reversal.
Trade active:
Added 1 lot at 8972
Trade 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 0.9025
Trade 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.