Best Thread GBP/USD 5min setups

[ChowClown]

Missed the initial break short on GU earlier, will wait for next consolidation break. EU within a 35-40 pip range atm, will take a confirmed break there too (off 5min chart).

 

[ChowClown]

like the look of this potential GU 123 short, order in.

 

[ChowClown]

Short order filled @5535 1st tgt near swing low (5510), 2nd tgt 5475...stops currently @5547.

Edit: 11:07 - stops to b/e, free ride time.
Edit: 11:17 - 1st tgt filled, 5510.
Edit: 11:35 - stops to 5527.

 

[ChowClown]

..looking double bottomish, so will be taking profit on this with any northern momentum.

 

[ChowClown]

out @5519. +0.91%, Wkly +6.05%.

 

[ChowClown]

Unsurprisingly a ranging (80 odd pips) day with FOMC this evening. I won't be trading around the announcement. Good luck if you are.

 

[ChowClown]

Levels of interest i'm watching atm (GU & EU). MPC in 20mins.

Edit: 12:52 - nothing has interested me enough to risk anything so far today.

 

[ChowClown]

Have been jobbing EU so far this afternoon on the 1min going for 10-20 all out tgts. Useful when screentime is more limited, which it has been for me today. Haven't had time to call realtime unfortunately. Hope you've had a good day and all being well i'll be trading GU again tomorrow, PA there put me off today and EU looked the less risky option.

 

[ChowClown]

1st trade and EU again. Short 3391, current sl 3405. Quick one before the German news in 10 mins.

Edit: 08:34 - held through news as momentum continued south, all out at 3367. +1.64%, wkly: +7.69%.

 

[ChowClown]

I'm waiting for GU to break from the current range to provide clearer direction before hopping on.

 

[ChowClown]

Mortgage Approvals in 7mins might give GU the kick it needs...

 

[ChowClown]

..back to EU, i see 3330 as an interesting level, it may provide a solid resistance/support switch setup, so that's the area i'll be watching PA around and looking for entries from.

Edit: 11:08 - long setting up perhaps, 5min 123 building, i'll probably take a confirmed break rather than just entering on the break of any 123 high.

Edit: 11:16 - above now void as new lower low just printed.

 

[ChowClown]

GU shaping up nicely now for a long, waiting for support to form around a retest of 5700 and will then hop on.

 

[ChowClown]

GU fib play setting up now, London open level around the 50% retrace, although the 38.2 might hold here as a s/r switch..

Edit: News caution for 13:30.

 

[ChowClown]

...long GU now from 5683 with wider stops (still @1% risk)...as it's a fib play, i'm using the 138.2 extension as a likely profit area (5744) and will be taking some off there, if all goes well.

Edit: 14:19 - stops to b/e in case 5700 is rejected again forming a double top.
Edit: 14:58 - b/e stops filled. Now flat before news at 3pm.

 

[ChowClown]

long GU again from 710 this time...initial tgt still 44 from the previous fib extension noted. Stops currently @704.

Edit: 16:05 - hit 42 before reversing, so stopped out at 704 for -0.4%, +7.29% on wk. Done for today.

 

[ChowClown]

...currently in on the laboured trudge up with GU. Entry 5693, took some off early at the 138.2 ext and next tgt 5728.

 

[ChowClown]

2nd tgt filled (5728), stops to b/e and next tgt 5760.

 

[leovirgo]

Hi Simon,

Good to see you in action. Yep, GU is a long.. I'm in it for a swing.

 

[ChowClown]

Stops to 5704.