Best Thread GBP/USD Breakout

[m2006s1]

What am I doing different ?

I'm guessing here, but I think they are ignoring wicks on the candles.

Although I made the same trade as you today Neil. Easy 20.

 

[dennisr]

Hello folks .... I am an experienced futures trader but relatively new to FX. I have selected AUD/USD, GBP/USD and EUR/USD as main pairs to watch but have found the GBP the best mover so far. Any thoughts on that ?

 

[Alexbabwa]

This one looks dodgey again. I can see another stopped out short, but cant see it going high enough for a long trigger. Hopefully its just nerves. orders in place

 

[dennisr]

been shorting for several hours here Alex

 

[dennisr]

but setting for a Long shortly

 

[mpat89]

was watching the setup but missed the entry as the market moved to quickly... pissed! anyone lucky enough to get in at 7?

 

[FormulaOneFan]

got my 22 pips today.

 

[Claudia123]

Yep quick + 20 here.

 

[Alexbabwa]

had i got in around 72 as the system dictates i would have 20. After yesterday i decided to get in at the lowest spike/wick/shadow which was 57. That 940 support that has been holding all week will be tough to break...

 

[mpat89]

do you all put stop orders to open your positions or do you do it at market when the price shows you should enter?

 

[Claudia123]

had i got in around 72 as the system dictates i would have 20. After yesterday i decided to get in at the lowest spike/wick/shadow which was 57. That 940 support that has been holding all week will be tough to break...

I got in at 64.8 - out 44.8. Not sure where 72 comes from. Any way good start to year with 3 wins from 4 (got stopped out yesterday).

 

[FormulaOneFan]

had i got in around 72 as the system dictates i would have 20. After yesterday i decided to get in at the lowest spike/wick/shadow which was 57. That 940 support that has been holding all week will be tough to break...

alexbabwa, you got it spot on. that support level is very strong. if GU breaks the support level then we could see good downtrend.

 

[Claudia123]

do you all put stop orders to open your positions or do you do it at market when the price shows you should enter?

Market price for me - this can obviously lose a few points when things move quick like today.

 

[mpat89]

i was watching it at 64-65 but refused to enter as it was 1 point too low for me heh

 

[dennisr]

can somebody please tell me what the time posted is : GMT ?

 

[Alexbabwa]

took 7 pips anticipating a rebound off 940. So i guess i should have more faith in the system. Did you get stopped out yesterday morning too Claudia? Neil as you dont ignore the wicks i imagine you had a similar entry...

I see you answered my question already Claudia my bad. 72 was a bad estimate looking at the hourly chart

 

[Claudia123]

took 7 pips anticipating a rebound off 940. So i guess i should have more faith in the system. Did you get stopped out yesterday morning too Claudia? Neil as you dont ignore the wicks i imagine you had a similar entry...

Yeah I got stopped out yesterday. Today was fun though

 

[Claudia123]

can somebody please tell me what the time posted is : GMT ?

GMT - trade from the close of the 6 am bar in other words 7 am London time.

 

[dennisr]

just figured it out .... NY

 

[Alexbabwa]

long at 81 with 601 limit