GBP/USD 5min setups

This is a discussion on GBP/USD 5min setups within the Trading Journals forums, part of the Reception category; Took the break north for +18.3 and exited at the daily pivot. Sl 13 pips, 1% risk, so gain of ...

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Old Dec 9, 2010, 2:52pm   #491
Joined Apr 2003
EU 5min long

ChowClown started this thread Took the break north for +18.3 and exited at the daily pivot. Sl 13 pips, 1% risk, so gain of 1.36%. That's 4.19% for the week so far, which will do for this week.
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Old Dec 9, 2010, 4:32pm   #492
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Re: EU 5min long

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Originally Posted by ChowClown View Post
Took the break north for +18.3 and exited at the daily pivot. Sl 13 pips, 1% risk, so gain of 1.36%. That's 4.19% for the week so far, which will do for this week.
Nice trading

Peter
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Old Dec 9, 2010, 4:35pm   #493
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gift horse...

ChowClown started this thread ...couldn't resist the pattern, decided to short GU over EU this time. 1% risk, entry 5776.5, sl 5793, nervous 33% scaleout for +4 (and stops to b/e) and took remainder off at +31.4. +1.35%, wK: +5.54%....def no more now
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Old Jan 6, 2011, 12:36pm   #494
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Re: GBP/USD 5min setups

ChowClown started this thread A belated HNY!

Edging back into this year's trading slowly. Keeping it very simple, first setup for me today is on GU, the poor services data has generated an intraday reversal with a couple of shorting opportunities - i'll take either a support/resistance switch and/or a continuation entry.

Edit: added a couple of other short entry levels. SbR (horizontal) level now filled at 5489 and SbR TL entry filled @5512....

Edit: almost all scaled in now, this morning's supply being the key to this trade, hindsight being a wonderful thing etc....if this pans out, i'm targeting the 138.2 fib ext around 5428.
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6th-jan-gu-5m-short.png   6th-jan-gu-5m-short-2.png   6th-jan-gu-5m-short-3.png  

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Old Jan 6, 2011, 5:21pm   #495
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Re: GBP/USD 5min setups

ChowClown started this thread ...all stops moved to 5495 now.

Edit:...stops to 5488.
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Old Jan 10, 2011, 12:59pm   #496
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GU long

ChowClown started this thread My trading frequency this year will be reduced as I make more effort to wait for the better signals. I've also increased the risk per trade from last year's max of 1% to 2%. I am in a very happy place as far as trading is concerned now, with a consistently high win rate and a simple intraday approach.

Took a GU long earlier on the break of the 5min 123 that hit the earlier supply area for +18.5.
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Old Jan 10, 2011, 7:49pm   #497
 
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Re: GU long

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Originally Posted by ChowClown View Post
My trading frequency this year will be reduced as I make more effort to wait for the better signals. I've also increased the risk per trade from last year's max of 1% to 2%. I am in a very happy place as far as trading is concerned now, with a consistently high win rate and a simple intraday approach.

Took a GU long earlier on the break of the 5min 123 that hit the earlier supply area for +18.5.
Well done mate. Keep up the patient approach
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Old Jan 12, 2011, 7:22am   #498
 
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Re: GBP/USD 5min setups

best of luck in the new year mate looking foward to your trading its great stuff

well done

patrick
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Old Jan 13, 2011, 4:23pm   #499
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Re: GBP/USD 5min setups

ChowClown started this thread Neil / Patrick, thanks for the best wishes. I wish you both well with your trading this year and as always, look forward to reading your posts.
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Old Jan 14, 2011, 11:33am   #500
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Re: GBP/USD 5min setups

ChowClown started this thread To help with the over-trading i was prone to last year, i now scan for setups on the 15min initially, across 6 pairs. So far this morning UC is the best contender for a short but a fair way to go yet.

Edit: short setup now void.
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