Seeking consistency

I am nervous (as stated below) about my 4hour trend holding, so have moved my stop very quickly to break even, due to the bearish hourly candle that just printed possibly implying the 4hrly 20ma has now become a resistance level.

At least I won't lose anything if cable starts to turn downwards now

Stop hit for -20

cumulative results so far:
result running total
GPB USD 0
JPY USD -35 -35
CAD USD -20 -55

what did I say about stops being hit in my introduction post to this thread, I think I need to allow these trades a bit more space to move

I just re-read my post number 28 regarding this pair. The attached chart has a note stating "will 1.00 50 hold as resistance now it has been broken as strong support".
So why was my stop for this particular trade placed below this level rather than (say) 10 pips above it?
Best I read my 4 hourly charts again before I place my stop and target levels on trades that have set up triggers on lower timeframes

Also stopped out for -30 this time

cumulative results so far:
(second colum is the result running total)
GPB USD 0 0
JPY USD -35 -35
CAD USD -20 -55
JPY USD -30 -85

Target hit @ 0.87 50 = +160 pips

cumulative results so far:
(second column is the running total result)
GPB USD 0 0
JPY USD -35 -35
CAD USD -20 -55
JPY USD -30 -85
GBP USD 0 -85
EUR GBP+160 +75

Once again my long trade has been stopped out at break even.

It seems that the price is trading in a narrowing range and as there is big news out today I am looking to take a trade in the direction of the break out of the range. Broadly long above 1.53 00 and short below 1.51 00 (fx500 club have notified of similar set ups, Christian is looking to continue buying the low 1.51 85 to the top of the range 1 52.60)

Price is pulling back into the 20/50 4 hourly and 50% 61.8% fib retracement levels

the hourly indicates a rejection of 0.92 20 area, lets see if this can hold as support
(Christian is looking to buy dips to 0.92 40 for 0.93) I'm setting a higher target, based on my 4h channel of 0.94, just below this years high

Last night and this morning have seen a fall off on stock markets. I'm waiting to see if they get as low as my buy areas (between my 4hr 20 & 50 ma's) and if so, find support from which I can get in with a long position

I have taken a long position @ 1181 on SnP, stop is @ 1174 and target is 1188, which is only 1:1 risk / reward

(I have moved my stop up to break even, below the low of the last hourly candle, incase this is a change in trend as opposed to a pull back!)