GBP/USD freebie trading strategy

Yes you can loverly move for 80pips from my entry of 1.1220 ;)

edit
It does have a tendancy to spike a lot...
If you are starting out then you may be as well to look at gbp/usd as it is more stable, mytrack code is cu.bp 2cent move today great or what!!!

GBP produces some great moves just be on them ;)
 
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Cu.bp is the MyTrack spot rate.

If you want the futures then it is BP`Z

The futures are thinly traded for the £/$ so you might be better with a Forex Broker for this cross.

JonnyT
 
Thanks fellas.

I thought to trade via IB...keep it all in Futures for ease of trading. So if not much action on Dax etc then look at Euro etc.

I am looking at the cmc platform JT to get an idea. TThe charts are not too bad.

They say that if lack of volatility lingers in the Dax etc Futures then people may move into currency and commodities in search of volatility and TA friendly moves.
 
GBP/USD

hi newtron.....followed your posts......are you still sticking to your original strategy for gbp/usd or have you tinkered with it?.....what do you make of the possibilities of the strategy with eur/usd?

hi jonnyt.....where do you find the futures symbols for sierra/mytrack.......looking for s&p500 in particular....the one that many say gives a guide for us equities generally.....

good luck trading guys....
 
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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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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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
 
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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... am going back to bed for an hour so i'll speak to guys later if ther is anything to report
 
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?
 
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
 
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 ?
 
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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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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