GBP/USD 4hr Setup in The Daily Time Frame

Nearly 1.30 gmt, lots of dollar news out! Be slow till then, holding firm.

Yes, hopefully support will hold. Cheers Rolston.
 
Well news was a damp squid!! She's wondering what to do now, consolidating a bit, I think it will have another go yet.
 
Hi Jason
Trust you are well. Sorry to hear about your experiences, I too lost roughly £2000.00 when I started out. I trade with Oanda, my experience with them has always been excellent. The great thing with them, you can't over trade, so if one has, say, £300.00 they will only allow you to trade say, 6000 units, which is great for self control. They don't cut you off during spikes. Here's two trades for you that I like:

eur/usd sell when(if) it gets to 1.3750 area
Gbp/usd buy now till 1.6200 area

Great that Rolston is a swing trader too.

Are you trading now?
 
Hi Jason
Trust you are well. Sorry to hear about your experiences, I too lost roughly £2000.00 when I started out. I trade with Oanda, my experience with them has always been excellent. The great thing with them, you can't over trade, so if one has, say, £300.00 they will only allow you to trade say, 6000 units, which is great for self control. They don't cut you off during spikes. Here's two trades for you that I like:

eur/usd sell when(if) it gets to 1.3750 area
Gbp/usd buy now till 1.6200 area

Great that Rolston is a swing trader too.

Are you trading now?

Targus,

I am doing a bit here and there. I was going to trend trade but realised that I needed much more money than I have at present - for the drawdowns. I did demo some trend trading and it seems to work ok. I was using a 1 month breakout like the turtles did. Until I have enough liquidity I can only trade £1 pp. I read alot about candles and MA's. I really need to learn/read alot more if I am to become a day trader.
 
Fantastic. How far you reckon to for exhaustion? Or more specific, when do you think we should leave, I mean she will not just keep going up up! I appreciate her final place will lie in the 1.6200 area.
 
Does your software automatically work out your support/resistance/how many pips in all timeframes, I mean what does it actually do?
 
We have hit 4hr Rist at 1.6047

She needs to break this and then pull back or she may pull back from here

We need to see support on the 4hr chart
 
4hr.gif

4Hr Chart
 
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