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Best Thread GBP/USD 5min setups
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Just been going over the chart and I let fear of a sudden reversal off the monthly pivot get the better of me. Price is still making lower lows and lower highs and I must pay more attention to this basic PA.
Morning, GU - looking to short now 9:30 news at the way....no confirmation yet though.
OK short GU 5698, initial sl 5729, 1st tgt 5665. 1% risk.
OK short GU 5698, initial sl 5729, 1st tgt 5665. 1% risk.
Ouch. -1%, wk: +1.36%, mth: +3.22%.
GU - long setting up now, just waiting for a 5min close above 5754.
GU looks as though it might rejoin hourly trend short. If there's a 5min close below 5700 with momentum i'll have another go..longer term swing trade tgts 5470-5500.
Edit: 12:13 - EU looks ripe for shorting too, good swing trade developing likely tgt areas 3620 and 3515!
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GU - long 5754. 1st tgt 5784. Current sl 5724. 1% risk.
stops to 5731.
EU - short 3827. sl 3853. Swing trade tgt 3700 (hrly swing low), then 3620, then 3500...may take a while! 1% risk.
..not this time, -1%. wk: +0.36%, mth: +2.22%.
GU - long 5754. 1st tgt 5784. Current sl 5724. 1% risk.
1st tgt zone hit, stops to b/e.
1st tgt zone hit, stops to b/e.
2nd tgt 5815. Will take 50% off if it gets there.
2nd tgt 5815. Will take 50% off if it gets there.
1/2 off at 815 and stops to 777, locking in 1.27%.
1/2 off at 815 and stops to 777, locking in 1.27%.
3rd tgt 847.
1/2 off at 815 and stops to 777, locking in 1.27%.
stops to 804, locking in 1.81%.
3rd tgt 847.
3rd tgt hit. 4th tgt 875.
stops to 804, locking in 1.81%.
stops to 832, locking in 2.37%.
GU reaching strong R level now so will tighten stops agressively now.
stops to 849.
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