Best Thread GBP/USD 5min setups

[ChowClown]

Morning, news at 9:30 and GU still between the range set on Tues, will continue to watch & wait.

 

[ChowClown]

EU - short off 5min eve star around an intraday fib resistance level.

 

[ChowClown]

EU - short off 5min eve star around an intraday fib resistance level.

1% loss taken. Wk: +0.26%

 

[ChowClown]

GU - looking for a long entry now above yesterday's 38.2.

Edit: Void, USD strengthening.

 

[ChowClown]

Despite the movement on GU today, i've not been comfortable so sat on the sidelines. I won't be trading tomorrow due to work commitments. The end of wk3 (+14.8%) of the journal and a new month beckons.

Until next week.

 

[ChowClown]

Morning, short EU currently looking for 3680ish, will be moving stops to b/e there and taking some off...

Edit1: stops to b/e, price flirting with friday's 61.8.
Edit2: 3 lots off at 3680 and stops now at 3697.
Edit3: 3697 filled. Now flat. +1.57% wk:+1.57%.

 

[ChowClown]

Been studying more supply/demand theory recently - EU is currently at supply levels going back to March this year, will be interesting to see if the news today acts as a catalyst for the big dogs...

 

[ChowClown]

15min EU, just going to test this PA from March's supply...

Edit1: filled 3786.
Edit2: Test over, 3822. -0.25% wk: +1.32%.

 

[ChowClown]

Morning, 1st pending entry today - short GU, 5893.

 

[ChowClown]

Have a daily pivot at 5855ish as well as my first tgt scaleout, so will watch pa closely around there should it reach.

 

[ChowClown]

Have a daily pivot at 5855ish as well as my first tgt scaleout, so will watch pa closely around there should it reach.

..stops to b/e, 15min pin forming from yesterday's supply..

Edit1: filled, now flat.

 

[ChowClown]

...will take the long from a break upwards of the pin.

 

[ChowClown]

...15min indecision on direction now, so a break either way is an option to trade

 

[ChowClown]

OK, short again from 81. Same 1st tgt as last time (56).

Edit1: yet another 15min pin forming so i'll stop and reverse on a break long...lesson learned from this is that i shouldn't have shorted when supply from yesterday was as close.
Edit2: typically a slow grind down like this during London will be reversed once NY gets underway...

Edit3: stopped for -0.27%, wk: +1.05%

 

[ChowClown]

GU Long, 5895..

 

[ChowClown]

...EU lifting nicely, maybe GU will follow.

Edit1: crappy US news and hardly a flicker on GU, bears toughing it out atm....EU continues to print HHs.

 

[ChowClown]

..-0.25% and flat. wk: +0.80% - original analysis has held and now dithering around the daily pivot. Ah well, next!

Edit: In fact, this has prompted me to think about journalling pivot trades, today was a great example on GU. I'll post my MT chart later.

 

[ChowClown]

MTF Pivots

Pivots seemingly coming into play today on GU from the weekly R1 this morning to today's daily pivot just now...nice price patterns (on the 15min) to set up the entries. Evening star/doji this morning and a doji off the pivot...nice and very simple. Ignore the sell level on the chart, it's from an hourly strat i'm testing.

 

[ChowClown]

GU long 5863 off the pivot, with reduced risk again (0.25%). Initial tgt TL area.

 

[ChowClown]

Not liking the pa on this now, so will attempt a small win/be exit soon.

Edit: EU testing resistance again, make or break soon for both pairs i think.