GBP/USD 5min setups

[ChowClown]

...15min indecision on direction now, so a break either way is an option to trade

 

[ChowClown]

OK, short again from 81. Same 1st tgt as last time (56).

Edit1: yet another 15min pin forming so i'll stop and reverse on a break long...lesson learned from this is that i shouldn't have shorted when supply from yesterday was as close.
Edit2: typically a slow grind down like this during London will be reversed once NY gets underway...

Edit3: stopped for -0.27%, wk: +1.05%

 

[ChowClown]

GU Long, 5895..

 

[ChowClown]

...EU lifting nicely, maybe GU will follow.

Edit1: crappy US news and hardly a flicker on GU, bears toughing it out atm....EU continues to print HHs.

 

[ChowClown]

..-0.25% and flat. wk: +0.80% - original analysis has held and now dithering around the daily pivot. Ah well, next!

Edit: In fact, this has prompted me to think about journalling pivot trades, today was a great example on GU. I'll post my MT chart later.

 

[ChowClown]

MTF Pivots

Pivots seemingly coming into play today on GU from the weekly R1 this morning to today's daily pivot just now...nice price patterns (on the 15min) to set up the entries. Evening star/doji this morning and a doji off the pivot...nice and very simple. Ignore the sell level on the chart, it's from an hourly strat i'm testing.

 

[ChowClown]

GU long 5863 off the pivot, with reduced risk again (0.25%). Initial tgt TL area.

 

[ChowClown]

Not liking the pa on this now, so will attempt a small win/be exit soon.

Edit: EU testing resistance again, make or break soon for both pairs i think.

 

[ChowClown]

EU - if she breaks up the pivot R around 3915-30 might be interesting to watch.

 

[ChowClown]

Not liking the pa on this now, so will attempt a small win/be exit soon.

Edit: EU testing resistance again, make or break soon for both pairs i think.

stops to b/e now on GU.

Edit: weekly R next tgt...5935ish.
Edit: will trail more tightly now that EU is nearing daily pivot, there's reasonable correlation today.
Edit: stops on remaining lots to 5895.

 

[ChowClown]

Edit: stops on remaining lots to 5895.

5895 Filled. +0.35%. Wk: +1.15%. Keeping an eye on EU now around today's R level.

 

[ChowClown]

EU - 15min IB @ res...if it were earlier in the day, i'd be tempted to short a breakdown of the IB. Good luck if you take it

Edit: void!

 

[ChowClown]

Morning, lots of GU/EU news today to be wary of. EU now at Daily and Monthly R levels, GU still range bound and looking choppy - favouring EU for 1st setup today.

 

[ChowClown]

EU - short off the pivots (3977)..target down around last demand (3940ish).

 

[ChowClown]

Indecision on the 15min, so stops to b/e as this is CT.

Edit: b/e stops filled.

 

[ChowClown]

EU - short again 3965, same initial tgt zone - the breakout area long from 7:30. Looking to long from that level (3940ish).

Edit1: ...if there's a 15min close above the daily R i'll take the loss.
Edit2: Closed for loss. -0.25%, wk: +0.90%. Flat now until after ECB.

 

[ChowClown]

EU, looking to short again now...around 77.

 

[ChowClown]

OK, EU filled short again, on revisit of this morning's 'supply', maybe this time it'll work. Again, looking for price to reach those buyers @c3940.

Edit: another -0.25% loss. wk: +0.65%. No more for me today.

 

[ChowClown]

..classic, slapped right into the demand area from this morning...need to work on my timing.

 

[ChowClown]

Morning, NFP later so any trades beforehand are likely to be quick scalps. GU now at resistance (daily, weekly and monthly!), will probably short from a 15min bearish candle.