GBPUSD Short
Got the break of the TL I was watching and I’m short to 1.5560 w/ a stop at 1.5710
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Triffany Hammond helps traders of all levels, gain the tools, resources and guidance necessary to build on their strengths and work around their weaknesses so that they can make the best possible decisions for themselves in the Forex Market. Triffany is a regular speaker and contributor at FXStreet.com and heads "The Human Element" a blog dedicated to trading psychology at ForexMotion.com Want to know more? She was recently profiled in "FXStreet.com's Women in Forex" Series.
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Well, this sucks.
Speaking of trading … I have a thought and its on the GBPJPY and its big, really big … no not that big just really big ….
http://www.screencast.com/t/OTc5ZTU5MWQt
Your G/J trendline looks just like mine!
A break of the TL and the horizontal line will be a long for me, or a break below the TL of the higher lows will be a short (coupled with an appropriate horizontal leve, of course).
great i will watch your list carefully
Yes, I have reversed this position now that we have both a horizontal break above the TL and the Horizontal Line. I’ve also entered a long position on the G/J and my U/CAD is doing quite well.
I’m sorry I can’t post the trades separately right now but I’ve got the FXStreet Webinar that I need to be logged in for right now.
For those of you in the USA who are thinking of moving their accounts abroad cos of the CTFTCFTC people, might think of trying out http://www.dbfx.com this is the trading platform of Deutche Bank, they offer mini accounts as well as decimalised pricing and also MT4 trading, they have 24HR phone trading as well as live chat etc (the usual). Their trading platform is the same platform as FXCM, which is quiet user friendly, and they also have offices in the USA. Obviously as foreign investors your main concern is that you become a distant second in the food chain should anything go badly wrong, so finding a company that is way richer and has more backing than any Broker is a good idea. It is also very unlikely that anyone would want Deutche bank to go la la. The only down side might be that their spreads aren’t that great, but you can compare yourselves. This is only an idea for anyone out there to look into, as I did look into them a while back but now I personally trade with FXCM UK as they offer spread betting accounts, which allows UK traders to trade with a tax break, and this system is not offered by bank traders. Obviously we all hope this stupid CFTCWXYZ doesnt come through, but i just thought to throw this in, if it helps anyone.
I just went short on the GBP/USD at 1.5789. I’ve been monitoring it since yesterday and didn’t feel comfortable entering a position until the USD Tic data came out this morning. Unfortunately/fortunately, I fell asleep and just woke up and things look bearish on my chart. I may add to the position if it reaches the midpt of my channel with momentum. I have a tight stop of 20 pips, since we’re starting the Asian session and don’t anticipate wild gyrations, but I’ll keep my close eye on it until I can go BE and take some profit.
Just curious Ermalinda, what time frame chart do you look at ? whats your profit target ? are you going for some retracement from the tic move ?
I took a snapshot of the chart but screencast is barfing on the HTML. Oh well. The planning and setup are done on the 4 hour chart and the trigger is on the 30 min chart.
Sell Entry 1 @ 1.57896 for 2 lots ( 1 already closed for a quick scalp)
Sell Entry 2 @ 1.57716 for 2 lots
Stop Loss @ 1.5820 (now changed to a hedge of same value
Target 1 = 1.5720 (midway of channel)
Target 2 = 1.5650 (bottom of channel)
Breakeven when 1st sell entry reaches 30 pips
I do analysis on demo acct and execute on FXCM-UK live acct
Hope that helps…