Have you ventured to the dark side yet?

[wannagetstacked]

sell order at 1.3374 eur/usd 5 mins

 

[wannagetstacked]

eur/gbp 5 min possibly breaking out, long order at 0.6930

 

[wannagetstacked]

Eur/gbp entered at 0.6930, stop at 0.6918, profit target 0.6942

 

[wannagetstacked]

Chart for above trade eur/gbp 5 mins, long trade on breakout with a 1:1 R/R

 

[wannagetstacked]

Higher swing highs and higher swing lows on 1 minute chart look promising to reach my exit target, have to be aware that this could be a false breakout however and be prepared,

Price now at 0.6934
Nathan

 

[wannagetstacked]

If prices look to have strength when/if my exit target is reached at 0.6942 i will not exit straight away, instead i shall trail my stop below the last swing low on the 1 min charts, therefore the maximum profit lost should only be 1 or 2 pips and if prices keep rising i can capitalise on the move.

 

[wannagetstacked]

Higher swing highs and lows continuing

 

[wannagetstacked]

Expecting a short term pull back in price now to around 0.6929/30 for a few bars, price now at 0.6933

 

[Roberto]

I'm with you in this trade (actually bought at 0.6929) but not planning to close at 0.6942. Will move my stop-loss up and maybe close part of the position.

 

[wannagetstacked]

Just a chart update

 

[wannagetstacked]

I think i may start trailing my stop under the last 1 minute swing low now,
Nathan

 

[wannagetstacked]

"Expecting a short term pull back in price now to around 0.6929/30 for a few bars, price now at 0.6933"

This appears to be happening now

 

[Roberto]

You are probably feeling calmer than I am at the moment because you're not also looking at my DMI crossover on the 5-minute chart (sorry to mention a tawdry indicator, but in Chapel Allerton we sometimes use those too!).

 

[wannagetstacked]

Trust the movement of the prices, they'll tell you what you need to know.

 

[wannagetstacked]

Are you still in the trade Roberto or has this pullback stopped you out? I feel the bulls are now returning,hopefully to hit my target before the next 5 min swing high.

Nathan

 

[Roberto]

I'm still here. Will feel happier if/when the high at .6940 is taken out. Why are you planning to close at 0.6942, Nathan?

 

[Roberto]

Trust the movement of the prices, they'll tell you what you need to know.

The "Chapel Allerton indicator" re-crossed 1 bar later. I still sometimes look at these things when I'm feeling nervous. DMI/ADX seems to stay on my charts, sorry

 

[wannagetstacked]

I'm expecting another pullback somewhere around 0.6942, if prices can break through the short term 5 min resistance at 0.6938 we should both reach our targets, 0.6938 could cause some trouble getting there though.

Nathan

 

[wannagetstacked]

If prices break through 0.6938 they could shoot up a fair amount, five individual 5 min bars are touching this resistance level, which is scary if it doesn't break,

Nathan

 

[Roberto]

Agreed. Am thinking of moving my stop to break-even .6929 because I don't really like the trade very much at the moment. Actually I have 3 5-minute bars touching .6938 and 2 touching .6939 (ProRealTime charts).