10 Trades

[mb325]

Looking to make 10 trades without deviating from the plan. First trade today.

Bought GBP/USD as it found support in a zone of previous resistance (4h chart) and following an admittedly poor version of 'three pushes lower' (15m chart).

Entry based on Low-High-Higher Low, on break of the H.

Entry (blue): 1.5226
Initial SL (red): 1.5198
Move to BE (pink): 1.5245
Target 1 (green): 1.5254
Target 2 (green): 1.5292
Other SL's in red.

Have taken half off so far at first target.

Entry and SL are swing points, targets and move-to-BE points are based on S/R & some fibs.

PT2 or BE overnight, if I'm still long in the morning I will adjust stop behind 15 min swing lows.

 

[mb325]

91 was the high overnight so missed PT2 by a couple of ticks.

Stop now moved up to just below the most recent swing low.

We have some UK data out at 9.30 and I would like to try and keep some skin in the game for that, so im now looking to take off 1/4 at 91 and run the rest with a tight stop if we do break higher from this little range that has developed this morning.

I realise this is a deviation from the plan but I'm happy to be more fluid with exits whilst keeping the entries disciplined.

Tempting to stop and reverse here but I would rather short from the red zone highlighted on the chart.

 

[mb325]

And all out for 1.33R.

Edit: And shortly after rallies to PT2!

 

[mb325]

Levels

One good choice (increasing targets) and one bad choice (moving stops) this morning. Sadly the bad choice trumped the good choice and I was stopped out to the tick before price proceeded to rally 70 odd pips. I'm not going to draw massive conclusions from this but I was probably in a bit too much of a hurry to protect my gains.


Just watching cable & EUR/USD at the moment. 4h Charts attached with levels of interest.

Cable currently consolidation near yesterday's highs, would try a short if we can trade a bit higher. Not srue what would get me long other than a strong break of the level and then an entry on a pullback.

EUR/USD digging into resistance over the past few days and I would like to sell that if we get up to ~1.1450. Tempting to enter on a break below 1.14 but the context just isn't there.

Comments welcome!

 

[mb325]

Short EUR/USD from H-HL-LH in the zone I marked earlier. Possibly missed an early entry but it was a bit tenuous.

Entry 1.1430
Stop 1.1444
BE @ 1.1418
PT1 @ 1.1416 (hit)
PT2 @ 1.1360

Stop now at BE.

 

[mb325]

And out for 0.5R.

 

[mb325]

Entry: 1.1493
Stop: 1.1477
BE: 1.1505
PT1: 1.1509
PT2: 1.1549

 

[mb325]

Stop moved up to 86.

Protection of capital is the name of the game. If I'm given the chance to move my stop closer to entry, I will, I can always get back in later.

 

[mb325]

And out for -0.47R.

Edit: This would've been stopped out for a full 1R loss a few minutes later. There was probably a chance, maybe even two, to get out a bit sooner, as lower lows were made below the breakout level if you were watching in realtime or even go back and look at a 1m chart. However, I have a history of not giving trades enough room so I'm trying to work on that.

A few of you may recognise this from a thread elsewhere: you should be willing to let price kiss your BE point once and no more - this makes a lot of sense to me. I want to be in trades that go my way straightaway with momentum, if this doesn't happen I will pull the plug asap.

 

[mb325]

Keeping an eye on this level in cable (4h chart), would want something like the attached 15m chart to get in.

 

[mb325]

And if the above doesn't present itself, chance to get in on a bigger swing (1h chart attached).

 

[mb325]

Well cable took out the highs, not very convincingly though so still looking for a short.

EUR/USD testing previous resistance from above, would not mind getting long if I get the chance (chart).

 

[mb325]

I'd love to take the cable 1h trade detailed above but as we took out the previous high it does not quite fit within my rules.

If anything I think the fact we broke the high by a couple of ticks adds to the reasons to take the trade as there should be more trapped longs, but, have to stick to the plan, and it does not include this kind of setup for now.

 

[mb325]

Entry: 46
Stop: 32
BE: 54
PT1: 60
PT2: 86

 

[mb325]

PT1 traded but as im with a bucketshop i didn't get filled, scratch trade.

 

[mb325]

Either way. Short makes more sense here but lets see.

 

[mb325]

Got close to the short, marked it up so may as well post it.

 

[mb325]

And for the long...

 

[mb325]

Out for -.64R.

 

[mb325]

Long triggers.