GBP/USD 5min setups

This is a discussion on GBP/USD 5min setups within the Trading Journals forums, part of the Reception category; Morning, EU - looking for a 5min close above 3929 for long entry, sl 3905, T1 3970, T2 3995. Mindful ...

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Old Oct 19, 2010, 9:19am   #211
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Re: GBP/USD 5min setups

ChowClown started this thread Morning, EU - looking for a 5min close above 3929 for long entry, sl 3905, T1 3970, T2 3995. Mindful of weekly pivot @3950.
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Old Oct 19, 2010, 9:41am   #212
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Re: GBP/USD 5min setups

ChowClown started this thread GU - interesting hourly PA, a counter trend scalp on a break above 52 is tempting, but I won't be taking it.
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Old Oct 19, 2010, 10:06am   #213
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Re: GBP/USD 5min setups

ChowClown started this thread GU - short pending 5822..
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Old Oct 19, 2010, 10:10am   #214
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Re: GBP/USD 5min setups

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Originally Posted by ChowClown View Post
Morning, EU - looking for a 5min close above 3929 for long entry, sl 3905, T1 3970, T2 3995. Mindful of weekly pivot @3950.
ZEW data lifting EU, will enter long should the switch hold above 30.
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Old Oct 19, 2010, 10:13am   #215
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Re: GBP/USD 5min setups

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GU - short pending 5822..
Filled, 1st tgt around 5800, initial sl 5854.
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Old Oct 19, 2010, 10:29am   #216
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Re: GBP/USD 5min setups

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ZEW data lifting EU, will enter long should the switch hold above 30.
Long order @3953, initial sl 3932, 1st tgt 3970.

Edit: 10:31 - will move order to better entry assuming switch holds.
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Old Oct 19, 2010, 10:39am   #217
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Re: GBP/USD 5min setups

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Filled, 1st tgt around 5800, initial sl 5854.
...if this goes to plan there's a fib extension tgt from the hrly GU chart which coincides with yearly and monthly levels @5665-5675, it will probably reach this level, my challenge is to stay in long enough.

Edit: 10:42 - my GU signal is still short even though equity futs are rising and EU is gathering strength again...times like this I want to bail but must stick to plan.
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Old Oct 19, 2010, 11:06am   #218
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Re: GBP/USD 5min setups

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Filled, 1st tgt around 5800, initial sl 5854.
Very poor CBI report acting as breakdown catalyst, trade still all in for the time being, want to ride this one as long as i can.
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Old Oct 19, 2010, 11:09am   #219
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Re: GBP/USD 5min setups

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Long order @3953, initial sl 3932, 1st tgt 3970.

Edit: 10:31 - will move order to better entry assuming switch holds.
EU entry setups abandoned for time being - full attention on the GU short.
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Old Oct 19, 2010, 11:11am   #220
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Re: GBP/USD 5min setups

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Very poor CBI report acting as breakdown catalyst, trade still all in for the time being, want to ride this one as long as i can.
2nd tgt 5755.
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Old Oct 19, 2010, 11:41am   #221
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Re: GBP/USD 5min setups

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Filled, 1st tgt around 5800, initial sl 5854.
Stops to b/e. Hrly pin forming although 15mins to go...

Edit: 12:00 - stops to 805. Don't want to leave this one without something. Locks in 0.53%.
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Old Oct 19, 2010, 12:23pm   #222
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Re: GBP/USD 5min setups

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Stops to b/e. Hrly pin forming although 15mins to go...

Edit: 12:00 - stops to 805. Don't want to leave this one without something. Locks in 0.53%.
Stops now @87. Locks in 1.09%.
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Old Oct 19, 2010, 12:26pm   #223
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Re: GBP/USD 5min setups

ChowClown started this thread EU - short signal building but i'll need to see a confirmed breakdown of 3880. Looking to the hrly chart, i have a fib ext tgt @3630 which is smack on the monthly pivot.
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Old Oct 19, 2010, 12:46pm   #224
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Re: GBP/USD 5min setups

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2nd tgt 5755.
GU - 2nd tgt zone hit....still all in 'tho.
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Old Oct 19, 2010, 12:51pm   #225
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Re: GBP/USD 5min setups

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GU - 2nd tgt zone hit....still all in 'tho.
Rejection of Monthly Pivot @ 5730ish, need to watch closely now...not in the EU short btw.
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