GBP/USD freebie trading strategy

Newtron Bomb

Experienced member
1,602 87
Hi bertie this yes and this should answer your question

Take for the day, Looking for an entry long on the BO of the overnight high, in a bit late @ 1.5925.
Looking for second entry 75 points later @ 1.6005 got it on a pull back.... next trigger level is 1.6080 bu leaving until tomorrow as its late and there is plenty in the bag

Quite an easy day.. reason for not taking the third entry is i'm expecting a slight pullback or sideways action after a move like this. Ive got a buy limit @ 1.6080 and my stop 30 point lower... reversal stop is 1.60 but i dont think that will trigger overnight.
 

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Lambchops

Active member
126 0
Newtron - When you did the pyramid at 1.6005 on the pullback - Is that because you missed it the first time or do you like to enter on a pullback when pyramiding?
 
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Newtron Bomb

Experienced member
1,602 87
it was in an area i'd liked to have bought ie 75 points higher and it did a lovely pullback so in.

Long @ 1.6080 overnight order triggered
 

Newtron Bomb

Experienced member
1,602 87
If i hadn't had got my 1.6080 entry over night here is a good entry opportunity.

A BO for a long position with a pullback just past a big round number.
My stop is adjusted to 1.6040 and the 1.6080 entry stop loss remains at 1.6050 for now.
 

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neil

Legendary member
5,167 749
HMMM....
I am trying to chart Eur v Dollar via cme globex !!

I have EUR for IB TWS platform and AQ`Z for Mytrack data feed yet IB TWS and Mytrack prices do not agree...Mytrack seems to be a couple of pips behind.

Have I got the right symbols for IB and Mytrack?
 

Newtron Bomb

Experienced member
1,602 87
Mytrack are doing work on their currency servers or something like that anyway... should be for the next two weeks

Long trigger area at 1.6155 (Note: 75 points higher) and we have a pullback nicely before then so a new high will take us into the next trade.
Only concern would be the EMA is miles away and i would probably look for some other indication of a reversal... I would have gone short on the BO of the overnight low so thats my watch area until i spot something else
Went long as i was typing, my stop 30 points lower
 

JonnyT

Senior member
2,560 22
I think the MyTrack symbol is EU`Z and not AQ

JonnyT
 

neil

Legendary member
5,167 749
Euro v Dollar Futures with IB

JonnyT said:
I think the MyTrack symbol is EU`Z and not AQ

JonnyT

They state it is AQ`Z....I need the live CME feed at $50....perhaps its cheaper to trade it via IB but using fxcm free charts ?
 

Newtron Bomb

Experienced member
1,602 87
A quick look at the longer term support and resistance levels showing the extremes as marked on the chart. A closer look tells me that there is s/r at 1.59 and at ever 50 points up and down from this point.

Conveniently the s/r level have seemed to have formed nearer the round numbers so i wouldnt look too much into this.

I prefer not to be ridged with a specific s/r point and use these levels as watch areas. The price may hit the s/r level precisely, go past it or fall short so it is best not to form a preconception of what will happen. Look at the price action at the time around these area's is what i find best for me.
 

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JonnyT

Senior member
2,560 22
EU is the Euro on CME
AQ is EuroFX on Globex-CME

The symbol list downloaded from MyTrack states that EU is the right symbol for the Euro/Dollar future

However the MyTrack data is continous for AQ like the future on IB and only normal US hours for EU. My head hurts.

JonnyT
 
 
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