Kim Cramer Larsson
Areas covered in this webinar by Saxo Bank technical analyst Kim Cramer Larsson include EURUSD, USDJPY, GBPUSD, EURGBP, gold, silver, S&P 500, the Nasdaq, the Dax, the FTSE and the Dow Jones.
Squawk / 08 March 2017 at 6:52 GMT
Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
EURGBP - Negative reaction expected
EURGBP was bought at higher levels for a 7th day in succession yesterday. This move, a 7th up day from the last 8, kept EURGBP hugging the upper end of a rising daily Keltner channel. New 7 week highs were posted although the speed and scope of the move means signals for sentiment are overbought. It is that element, coupled with a failure to maintain the highs that indicates scope for a deeper corrective move.
So we're looking to sell in .8660/65 area and at .8684. The stop is .8710 with downside targets of .8638, .8621 or even .8590. The time horizon is intraday.
leo_100 leo_100
thanks alan, dont u think this is a bad RR ratio trade?
AlanCollins AlanCollins
While the RR would not be considered ideal, when you're talking intraday the value of such ratios are, imo, less than if the trade was medium to long term. The targets in this trade and the risk level will be adjusted if/when necessary as price action develops so the ratio is not set in stone. The key, again in my opinion only, is to get direction right and fine tune the levels on an active addition none of our intraday trade ideas are valid past 16.00 gmt. Hope this helps to explain where we're coming from.
goldfinger goldfinger
Well said,Alan
vik7795 vik7795
I am in
Alan, thanks for the idea. It hit the the highest point you mentioned, do you think it is good time to enter?
Jazzy Jazzy
still active? it is going up hard.. :S
AlanCollins AlanCollins
Still active although the renewal of buying is a little more aggressive than expected. Nonetheless the stop remains in the right place
AlanCollins AlanCollins
Modestly higher than .8660/65 area but lower from our sell a .8684 level, negative signals are intact but diluted. We now recommend reducing exposure at current prices with a stop lowered to today's peak.


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