Best Thread GBP/USD 5min setups
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stops to +1.
Exit chart - 3700.8 (+40.8 pips).
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This morning the patterns did seem easier to read, i found pa fine off the 15min to set things up, i pulled out to the hrly/4hr to check key supply levels again and the entries were reasonably straight forward from there. Lots left on the table but the plan was over quickly and it was nice to keep exposure down for a change 
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Work getting in the way of trading for me the least couple of sessions.
EU - the current intraday reversal is from price interaction around a weekly 138.2 fib extension level. As 138.2's consistently offer good 5min swing targets intraday, i'm particularly interested when these levels are reached on the weekly tf.
EU - the current intraday reversal is from price interaction around a weekly 138.2 fib extension level. As 138.2's consistently offer good 5min swing targets intraday, i'm particularly interested when these levels are reached on the weekly tf.
Took 2 trades during London today posted on the FX thread, using MTF Heikin-Ashi. 0.5% risk on each and both with 12 pip stops. The first for 10.5 pips (0.44%) the other for 26.4 pips (1.10%). Week: 1.97%, journal mnth: 4.19%. Using the journal now as more of a blotter, calls/thoughts/trades will be posted here:
http://www.trade2win.com/boards/forex-discussion/75186-forex-trading-live-calls-set-ups.html
http://www.trade2win.com/boards/forex-discussion/75186-forex-trading-live-calls-set-ups.html
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This week so far is -1.45% (+2.99% for the journal month). Friday will be the end of the 3rd 4 week period of the journal, i'll reset the journal from 1st wk in Jan.
I'm now posting volatility breakout calls on GU (on the live thread), very similar to the strat i used years ago (VEBO). I can then focus on the generally cleaner EU and EJ charts for 5min day trades. Oanda EU spread is usually 0.9 pip which makes a difference.
I'm now posting volatility breakout calls on GU (on the live thread), very similar to the strat i used years ago (VEBO). I can then focus on the generally cleaner EU and EJ charts for 5min day trades. Oanda EU spread is usually 0.9 pip which makes a difference.
...i've realised i have been making mistakes on the reported monthly return. Today is the last day of the 3rd 4 week period since the journal started. The account has grown well and this last period has actually increased the account by 8.87%. This week currently stands at -1.29%. I took two trades which weren't called on the live thread, 1 yesterday and the other this morning on EU. Snapshot of the broker log below. A +50 for 0.5% and +14.9 for 0.16%.
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EU - 3rd short off 5min today....and probably the last given time of day ADR etc...entry 3282.4, initial sl, 3311, 50% scaleout planned @3255, final destination 3225.
Edit: given the way price action has revealed itself as this trade has progressed, the original plan has now changed to an all out exit around the most recent 5min 123 138.2 fib extension @3260....exit plan might change again soon, if long momentum begins to build.
Edit: 16:35 - stops now @b/e.
Edit: 16:42 - all out 3268.6 (+13.8, +0.48%). Day up 1.54%, which is enough for today.
Edit: 16:45 - lucky I did...exit chart below.
Edit: given the way price action has revealed itself as this trade has progressed, the original plan has now changed to an all out exit around the most recent 5min 123 138.2 fib extension @3260....exit plan might change again soon, if long momentum begins to build.
Edit: 16:35 - stops now @b/e.
Edit: 16:42 - all out 3268.6 (+13.8, +0.48%). Day up 1.54%, which is enough for today.
Edit: 16:45 - lucky I did...exit chart below.
Attachments
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Closed the GU London breakout trade for a total of 0.23% (wk: 1.77%).
I'll be closing the journal for the year on Friday, trading tailing off at the moment with increase in business at work. I'm likely to divert attention to larger swing trades throughout the rest of Dec with the odd 5min thrown in, but i won't be reporting them here.
I'll be closing the journal for the year on Friday, trading tailing off at the moment with increase in business at work. I'm likely to divert attention to larger swing trades throughout the rest of Dec with the odd 5min thrown in, but i won't be reporting them here.
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