GBP/USD 5min setups

Eu

...now short EU from a break of latest consolidation, 1st scaleout @3076, stops just above consolidation highs at the moment.

Edit: 13:03 - 1st scaleout filled 3076, next up 3055.
Edit: 13:30 - 2nd scaleout filled 3055, next 3029. Stops to b/e.
Edit: 14:12 - stops to 3053. Locking in +2.24%.
 

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Flat now. EU stopped out for the +2.24%. Wkly: +5.14%.
 

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GU - watching this area of consolidation for a confirmed break.
 

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...the break short came and developed further consolidation, liked the break down from the inside bar but didn't enter until 5567. Stops 5580, 1st tgt 5555.

Edit: 17:14 - stops to b/e, pa too slow now to risk more time on this one and i'm about to leave th'office.
Edit: 17:39 - stopped @b/e. Off now.
 

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  • 20th Sep NY 1b.PNG
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Missed the initial break short on GU earlier, will wait for next consolidation break. EU within a 35-40 pip range atm, will take a confirmed break there too (off 5min chart).
 
like the look of this potential GU 123 short, order in.
 

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  • 21st Sep LO 1.PNG
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Short order filled @5535 1st tgt near swing low (5510), 2nd tgt 5475...stops currently @5547.

Edit: 11:07 - stops to b/e, free ride time.
Edit: 11:17 - 1st tgt filled, 5510.
Edit: 11:35 - stops to 5527.
 

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  • 21st Sep LO 1a.PNG
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..looking double bottomish, so will be taking profit on this with any northern momentum.
 
Unsurprisingly a ranging (80 odd pips) day with FOMC this evening. I won't be trading around the announcement. Good luck if you are.
 
Levels of interest i'm watching atm (GU & EU). MPC in 20mins.

Edit: 12:52 - nothing has interested me enough to risk anything so far today.
 

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  • 22nd Sep LO EU Levels.PNG
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Have been jobbing EU so far this afternoon on the 1min going for 10-20 all out tgts. Useful when screentime is more limited, which it has been for me today. Haven't had time to call realtime unfortunately. Hope you've had a good day and all being well i'll be trading GU again tomorrow, PA there put me off today and EU looked the less risky option.
 
1st trade and EU again. Short 3391, current sl 3405. Quick one before the German news in 10 mins.

Edit: 08:34 - held through news as momentum continued south, all out at 3367. +1.64%, wkly: +7.69%.
 

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  • 23rd Sep LO EU 1.PNG
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I'm waiting for GU to break from the current range to provide clearer direction before hopping on.
 

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  • 23rd Sep LO GU Range.PNG
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..back to EU, i see 3330 as an interesting level, it may provide a solid resistance/support switch setup, so that's the area i'll be watching PA around and looking for entries from.

Edit: 11:08 - long setting up perhaps, 5min 123 building, i'll probably take a confirmed break rather than just entering on the break of any 123 high.

Edit: 11:16 - above now void as new lower low just printed.
 

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GU shaping up nicely now for a long, waiting for support to form around a retest of 5700 and will then hop on.
 
GU fib play setting up now, London open level around the 50% retrace, although the 38.2 might hold here as a s/r switch..

Edit: News caution for 13:30.
 

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  • 23rd Sep LO GU Fib.PNG
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...long GU now from 5683 with wider stops (still @1% risk)...as it's a fib play, i'm using the 138.2 extension as a likely profit area (5744) and will be taking some off there, if all goes well.

Edit: 14:19 - stops to b/e in case 5700 is rejected again forming a double top.
Edit: 14:58 - b/e stops filled. Now flat before news at 3pm.
 

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  • 23rd Sep LO GU Fib Entry.PNG
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long GU again from 710 this time...initial tgt still 44 from the previous fib extension noted. Stops currently @704.

Edit: 16:05 - hit 42 before reversing, so stopped out at 704 for -0.4%, +7.29% on wk. Done for today.
 
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