GBP/USD 5min setups

This is a discussion on GBP/USD 5min setups within the Trading Journals forums, part of the Reception category; ...will take the long from a break upwards of the pin....

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Old Oct 6, 2010, 11:49am   #120
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Re: GBP/USD 5min setups

ChowClown started this thread ...will take the long from a break upwards of the pin.
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Old Oct 6, 2010, 12:01pm   #121
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Re: GBP/USD 5min setups

ChowClown started this thread ...15min indecision on direction now, so a break either way is an option to trade
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Old Oct 6, 2010, 12:05pm   #122
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Re: GBP/USD 5min setups

ChowClown started this thread OK, short again from 81. Same 1st tgt as last time (56).

Edit1: yet another 15min pin forming so i'll stop and reverse on a break long...lesson learned from this is that i shouldn't have shorted when supply from yesterday was as close.
Edit2: typically a slow grind down like this during London will be reversed once NY gets underway...

Edit3: stopped for -0.27%, wk: +1.05%
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Old Oct 6, 2010, 12:58pm   #123
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Re: GBP/USD 5min setups

ChowClown started this thread GU Long, 5895..
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Old Oct 6, 2010, 1:00pm   #124
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Re: GBP/USD 5min setups

ChowClown started this thread ...EU lifting nicely, maybe GU will follow.

Edit1: crappy US news and hardly a flicker on GU, bears toughing it out atm....EU continues to print HHs.
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Old Oct 6, 2010, 1:39pm   #125
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Re: GBP/USD 5min setups

ChowClown started this thread ..-0.25% and flat. wk: +0.80% - original analysis has held and now dithering around the daily pivot. Ah well, next!

Edit: In fact, this has prompted me to think about journalling pivot trades, today was a great example on GU. I'll post my MT chart later.
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Old Oct 6, 2010, 2:15pm   #126
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MTF Pivots

ChowClown started this thread Pivots seemingly coming into play today on GU from the weekly R1 this morning to today's daily pivot just now...nice price patterns (on the 15min) to set up the entries. Evening star/doji this morning and a doji off the pivot...nice and very simple. Ignore the sell level on the chart, it's from an hourly strat i'm testing.
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