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#1 Dec. 4, 2006 17:26:00

vitkoff
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EUR/GBP

Doea anybody agree that this pair is going sideways for long time with downward bias. I see a long term sloping coridor with present high of .6785 and low target in the .6650 range?
I do not have any strong fundamentals except for what I have been talking about.
My understanding is the the Pound could take some small beating compared to the Eoro short term ,which should bring it to a good selling point.

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#2 Dec. 4, 2006 17:42:00

mimo421sk
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EUR/GBP

My chart Vince

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Kind regards,
mimo

[ December 04, 2006, 05:45 PM: Message edited by: mimo421sk ]


"Geometrical ideas correspond to more or less exact objects
in nature, and these last are undoubtedly the exclusive cause
of the genesis of those ideas.
"
Albert Einstein

*************** Shorting for fun :) ***************

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#3 Dec. 4, 2006 17:45:00

vitkoff
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EUR/GBP

I have short orders at .6739, 60,80, and 85.
Targets are .6670, adn .6650 ( the low end of the chanell).

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#4 Dec. 4, 2006 18:04:00

vitkoff
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EUR/GBP

Thanks Mimo,
Your charts came as a Cristmass present.
How different they look from mine, but then again, I have not studied charting and have developed my own methods which seem to be different from the conventional methods. so I will have to go with yours!

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#5 Dec. 4, 2006 18:27:00

vitkoff
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EUR/GBP

Just a reminder,
I do not have strong fundamentals for this trade, and charts do not mean a thing for this pair, espacialy for long term trading. Actually some of the bigest experts in Canada are long.
Regardless, I find it very safe long term for my strategy and I like the interest it will make within the next few months. I do not have any stops.

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#6 Dec. 4, 2006 22:47:00

vitkoff
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EUR/GBP

This may be off topic , but after reading "Interesting Contrarian Viewpoint on Dollar Bearishness" i am comming back to my old view that trading the dollar short term is like a suicide wish. This is why the Dollar pairs are the only ones I usually hedge, unless it is USD/CHF which pays prety good interest, the way Karlo does it.

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It may seem like a pretty stupid idea that I decided to short EUR/GBP WHEN i EXPECT IT TO GO UP but it is a strategic long term plan. I do not know for a fact that it is going to go up or even reach all my orders. But why risk it going against the interest.

In the post Interesting Contrarian Viewpoint on Dollar Bearishness they are talking major reversal of the European economies in a few months. I do not believe that it can happen that fast, but if it did, then my former statement that the EZ economy will suffer more than the BRitish economy from the higher currency should have very good effect on the move of the short EUR/GBP. This is what made me go into a long term short position, which is a carry. Even if i am wrong the interest will take care of my mistake at some point of time.

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#7 Dec. 11, 2006 20:43:00

vitkoff
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EUR/GBP

I have only one of the original shorts left in this pair, and I am thinking of getting more positions. My sell orders do not start until 1.6780.
Are there any beter suggestions?

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#8 Dec. 12, 2006 12:01:00

vitkoff
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EUR/GBP

I took profit in my last position,. since the large EUR/GBP SELL ODER by a large bank should have been completed buy now and I will start selling in the 6750 area and up

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#9 Dec. 18, 2006 13:02:00

mimo421sk
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EUR/GBP

0.6680 [Wink]

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"Geometrical ideas correspond to more or less exact objects
in nature, and these last are undoubtedly the exclusive cause
of the genesis of those ideas.
"
Albert Einstein

*************** Shorting for fun :) ***************

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#10 Dec. 18, 2006 15:12:00

adgardine
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EUR/GBP

I'm betting a medium term correction for this pair possibly to .6850 level. Long term still down.


My algorithm can beat up your algorithm.

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