Best Thread GBP/USD 5min setups

[ChowClown]

Gu

...looks more promising for the short below the RN and monthly pivot.

 

[ChowClown]

Re: Gu

...looks more promising for the short below the RN and monthly pivot.

Short 5988. S1 @40, MS1 @30, WS1 @20...could be interesting.

edit:...not far off taking a loss now. Lots of hammers printed off the monthly pivot....will try and salvage a few pips rather than taking a full loss.

edit: nice 123 long developing, so took -12.

 

[ChowClown]

Gu2

GU long 6013 from the 5min 123...work busy now, so set & forget for 1:1.

 

[ChowClown]

GU update & EU

...thankfully holding onto the GU long was an OK decision. Also long EU now from a 15min trigger.

Edit: stops to b/e on both now.
Edit: EU taken off 80% @+13.

 

[ChowClown]

Gu

...like the look of this 15min pa, so a long order pending @6136. Fib play too from the 38.2, will tgt 138.2 ext initially around 6170-75. Initial stoploss below the most recent 15min low (6121).

edit: need to leave office for a while, so cancelling order for now..

 

[ChowClown]

I accepted a job with Oracle last week, so all change (again!) from 3rd March. I'll be unable to journal in the same way but i intend to keep posting when I can. With this change i'll be trading 1hr setups, using entries off the 15, still using the same trusty tools (fibs and pivots).

 

[ChowClown]

Gu

...long @6237, tgting 6300.

Edit: stopped out.

 

[ChowClown]

Eu

...this long took me by surprise, but zooming out to higher TF gave a big clue ...will hopefully make up for yesterday's loss and then some, still fully loaded on this momentum with stops now @be.

Edit: 11:38 - Monday's low being tested so will TP on a 5min 123 break short for the trip back down..
Edit: 11:56 - not done yet, momentum kicking in again. +80ish atm.

 

[ChowClown]

Re: Eu

...this long took me by surprise, but zooming out to higher TF gave a big clue ...will hopefully make up for yesterday's loss and then some, still fully loaded on this momentum with stops now @be.

Edit: 11:38 - Monday's low being tested so will TP on a 5min 123 break short for the trip back down..
Edit: 11:56 - not done yet, momentum kicking in again. +80ish atm.

Out now for +85. No more today

 

[ChowClown]

Eu

...5min off todays R1...might be a tad ambitious, but the pivot is a juicy target. I'll move stops to b/e when the PA allows and just let it go.

Edit: I should add that the 4hr chart was a first port of call before drilling down to the 5min.

 

[ChowClown]

Re: Eu

...5min off todays R1...might be a tad ambitious, but the pivot is a juicy target. I'll move stops to b/e when the PA allows and just let it go.

Edit: I should add that the 4hr chart was a first port of call before drilling down to the 5min.

Out for b/e. Can always try again.

 

[ChowClown]

Eu

...back in EU long this time...took a 123 just shy of R1. Note to self: If it has the legs, watchout for 3771. Before that it has to bust through the 9th Feb R (3744).

Edit: 11:44 - plan is to take half off @3770, stops will then be moved to b/e and will hang on tgting early Feb
supply.
Edit: 12:04 - just noticed the inverse H&S on the hrly when zooming out....could be good (kiss of death...lol).

 

[ChowClown]

Re: Eu

...back in EU long this time...took a 123 just shy of R1. Note to self: If it has the legs, watchout for 3771. Before that it has to bust through the 9th Feb R (3744).

Edit: 11:44 - plan is to take half off @3770, stops will then be moved to b/e and will hang on tgting early Feb
supply.
Edit: 12:04 - just noticed the inverse H&S on the hrly when zooming out....could be good (kiss of death...lol).

Stops to b/e, not looking too clever to hang on...might be better pa during US....9th Feb supply kicking in perhaps.

 

[ChowClown]

EU - long again

R1 finally busted through US news...in long again from 3737, 1st scaleout @3770 with a move to b/e on rest and then let it go...

Edit: 15:24 - TP1 filled @3768 (+31) and stops to b/e on remainder.

Edit: 15:38 - likely final tgt zone for this trade around 3800 (weekly R1, RN) and supply/R between 3820-25.

Edit: 08:14 24th - b/e stop hit around 8pm last night.

 

[ChowClown]

Gu

Long pending from this potential 123...off yesterday's lows.

Edit: long filled 6181...when PA looks right will move stops to b/e and let go. This is more of a swing trade entry with key tgt areas of 6325 and 6370.

Edit: 10:40 - given the lack of follow through around the RN and given price is now retesting from below with a potential 123 short setup developing, i'm happy to move stops to b/e, there's always another setup around the corner.

Edit: 10:50 - b/e stop filled.

 

[ChowClown]

GU - 5min double/W bottom forming perhaps, so may get another stab at the long during US. Tracking EU too now for a long off a 5min 123 probably....will take 1 rather than both, if offered.

edit: 17:39 - fun and games on EU, took the long but pulled at b/e, after the pivot/RN rejection printed. Until tomorrow.

 

[ChowClown]

Watching EU for a 5min entry long...could take a while for the setup to trigger but getting more interesting...will be treating it more as a scalp seeing as its friday.

GU - price interacting with strong multi timeframe pivot confluence atm....

 

[ChowClown]

def the best plan mate. Hope you've had a good week.

 

[ChowClown]

Gu

GU, now short from the break below the pivot(s), 1st TP 6020ish with the move to b/e on the remainder, seeing as it's Fri.

 

[timsk]

This thread is a duplicate of the original and has then been culled severely to enable members to focus on the wheat without having to wade through all the chaff. For anyone wanting to view the unedited thread in all its glory and/or post further comment, please do so on the original: GBP/USD 5min setups (ORIGINAL THREAD)