GBP/USD 5min setups

This is a discussion on GBP/USD 5min setups within the Trading Journals forums, part of the New Traders category; Originally Posted by ChowClown Bailed all out @90. -0.31%, wk: -0.31%, Mth: +1.55%. Waiting for more convincing momentum with a ...

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Old Oct 18, 2010, 8:01am   #201
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Bailed all out @90. -0.31%, wk: -0.31%, Mth: +1.55%.

Waiting for more convincing momentum with a view to re-entering short..
GU, short @5871, initial sl 5895, 1st tgt 5850ish
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Old Oct 18, 2010, 8:03am   #202
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EU - long order pending 3908.
Cancelled.

Edit: 13:09 - EU looks to be on the 'switch' here, so another long order placed above the RN @05.
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Old Oct 18, 2010, 8:21am   #203
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Cancelled.

Edit: 13:09 - EU looks to be on the 'switch' here, so another long order placed above the RN @05.
EU - long from 3905, initial sl 3885, 1st tgt swing high @20ish, 50 looks a useful 2nd tgt.
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Old Oct 18, 2010, 8:24am   #204
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GU, short @5871, initial sl 5895, 1st tgt 5850ish
Stopped out for -1%. Wk: -1.31%, Mth: +0.55%.
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Old Oct 18, 2010, 8:26am   #205
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EU - long from 3905, initial sl 3885, 1st tgt swing high @20ish, 50 looks a useful 2nd tgt.
1st tgt hit but will wait and see where the current 15min closes before scaling out, if at all. Want to try and make the trade work a bit harder.
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Old Oct 18, 2010, 8:31am   #206
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1st tgt hit but will wait and see where the current 15min closes before scaling out, if at all. Want to try and make the trade work a bit harder.
Happy to hold onto full amount for now, equity futs and cable also strengthening.
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Old Oct 18, 2010, 8:52am   #207
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ChowClown started this thread GU, i have a buy signal in play on the 5min atm, will wait for this bar to close before entering..

Edit: 14:01 - decided to just stick with the EU long for now.
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Old Oct 18, 2010, 9:11am   #208
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ChowClown started this thread Strong US data rumbling GBP, EU momentum stalling...stops to b/e.
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