i Spot i Trade: 2011

GBPUSD - 14 Sep 2011

Ok back on my journal again.

EP: 1.5750
SL: 1.5800
TP: 1.5670

Trade update: SL hit.

I am back trading again after MIA for almost a month. Been busy with work as well as taking care of my gal at home as we temporary withdraw her from childcare centre.

Ok back to charting. GU has been moving 500pips range since my last post. Daily chart showing downtrend with support at 1.5770. Currently price is rejecting the top bullish trendline and she might head south again to retrest the previous support in order to break downwards more.

I placed a sell order at 1.6150 after H4 formed a pin bar. SL will be set slightly higher at the top shawdow of the pin bar. The previous support at 1.5770 look a nice TP in future. We'll see how it performs next week.

EP: 1.61500
SL: 1.62100
TP: 1.60000

Trade update: SL hit - 60pips

GBPUSD Setup - 29 Jun 2011

Price broke out of the bearish TL (purple) and failed to close below the previous support level (red). Currently price is overall still bearish but we are in a retracement level. Projected target price is near 50% level at 1.6090. SL will be set slightly lower than the red line at 1.5970.

EP: 1.60000
SL: 1.59700
TP: 1.60900

GBPUSD Setup - 28 Jun 2011

Price bounce off the TL as well as 1.5980. I placed pending sell at 1.5960 with SL looking at 1.6010. TP looking at 1.5830.

EP: 1.5960
SL: 1.6010
TP: 1.5830

Trade update: shifted SL to BE.
Trade update: Closed 50% near double bottom before price shoot back up to take out my SL. 40pips profit

GBPUSD Setup - 24 Jun 2011

After price failed to close above previous resistance, i placed a pending sell order right after the pin bar formed. SL will be set at 1.6040

EP: 1.60100
SL: 1.60400
TP: 1.59500

Trade update: TP hit. 60pips.

GBPUSD Setup - 21 Jun 2011

I took this aggresive long after noticed price was bounced off previous support. I placed a pending long right after the long legged doji. SL will be low of Doji.

EP: 1.61950
SL: 1.61600
TP: 1st TP @ 1.62600 & final TP @ 1.63000

Trade update: shifted SL to BE.
Trade update: 1st TP hit. closed 50% profit.

GBPUSD Setup - 20 Jun 2011

Been very busy with my work recently. Opened my chart today and saw so much movement since last week. After realised we have a new HH and i waited for price to retest the TL which it did. I placed a pending buy order at 1.6140 with SL looking at 1.6090. 1st TP looking at 1.6200 and final TP at 1.6260 (50% fibonacci retracement on H4)

EP: 1.6140
SL: 1.6090
TP: 1.6200 & 1.6260

Trade update: Closed at 50pips profit.

GBPUSD Setup - 09 June 2011

After watching price break out of the bearish TL and followed by price rejection at the TL make me placed a buy order at 1.6420. SL will be looking at 1.6390 while TP will be the same as the previous trade at 1.6460 & 1.6500 respectively.

EP: 1.6420
SL: 1.6390
TP: 1.6460 & 1.6500

Trade update: close 50% at 1st TP. Moved SL to BE.

GBPUSD Setup - 08 June 2011

I've added another buy position after price failed to break previous support 1.6400. I took the buy setup right after the IB was formed. SL will be slightly lower at 1.63900. 1st TP and 2nd TP are looking at 1.64600 and 1.65000 respectively.

EP: 1.64200
SL: 1.63900
TP: 1.64600 & 1.65000

Trade update: SL hit -30pips

GBPUSD Setup - 07 June 2011

After price formed a pinbar along the TL on H4 chart. I placed a pending buy order at 1.63800. SL will be set at 1.6350. 1st TP will be looking at the key figure of 1.6460 and final TP at 1.65000

EP: 1.63800
SL: 1.63500
TP: 1.6460 & 1.6500

H4 Chart

H1 Chart

Trade update: 1st TP hit. closed 50% of profit.
Trade update: Moved SL to BE.
Trade update: Trade closed at BE.

GBPUSD Setup - 06 June 2011

After price rejection at previous support at 1.6400. I placed a pending buy order at 1.64300. SL will be looking slightly at 1.63900. TP will be set at 1.6500

EP: 1.64300
SL: 1.63900
TP: 1.65000

Trade update: SL hit -40pips

GBPUSD Setup - 02 June 2011

Right after hitting my TP at 1.6310. Price retraced back up to 1.6400 but failed to hold it further. It ended up a pin bar on the hourly chart. I placed pending sell order at 1.6370. SL set at 1.6420.

EP: 1.6370
SL: 1.6420
TP: 1.6310 (1st TP) & 1.6260 (Final TP)

Trade update: 50% profit closed at 1st TP. Moved SL to BE.

GBPUSD Setup - 01 June 2011

There is a H&S formed on H4. I placed a pending sell order right after the pullback. Entry price was 1.6420. SL will be looking at previous resistance near 1.6450. Based on H&S theory, my TP should be looking around the length from head to neckline which give around 110pips.

EP: 1.6420
SL: 1.6460
TP: 1.6310

H&S H4 Timeframe

Entry on H1 Timeframe

Trade update: TP hit. 110pips

GBPUSD Setup - 27 May 2011

After watching price failed to below 1.6400 which is a strong support. I placed a pending buy order at 1.6440. SL will be looking at 1.6390. TP set at 1.6580

EP: 1.64400
SL: 1.63900
TP: 1.65800

Trade update: Closed at 30pips profit.

USD INDEX - 26 May 2011

Currently, price is hitting it support turned resistance. We might see USD Index to drop more in future if it cannot break out of the down trendline. Price is much lower from 200MA.

GBPUSD Setup - 26 May 2011

Price bounce off at previous resistance and resulted an IB formed. I placed a pending sell order at 1.6310 and looking to lock some profit at 1.6260 and final TP at 1.6230. As this is against the trend thus i will monitor it closely when price is near my 1st TP. SL looking at 1.6340

EP: 1.6310
SL: 1.6340
TP: 1.6260 & 1.6230

Trade Update: closed at BE.

GBPUSD Setup - 25 May 2011

A pin bar formed after price is being tested on previous support on the hourly chart. I waited for another green upclosed candle before i set my pending buy order. Trade triggered at the price of 1.6175. SL is set at 1.6140. I've set 2 TP for this trade at 1.6230 & 1.6280.

EP: 1.6175
SL: 1.6140
TP: 1.6230 & 1.6280

Trade update: SL hit -35pips

GBPUSD Setup - 24 May 2011

I closed my previous trade manually after a long pin bar formed on H1 which it closed above the TL on daily chart. I placed pending buy order at 1.6130 and it got kicked in within second. SL is set at 1.60900. TP looking at 1.62300

EP: 1.61300
SL: 1.60900
TP: 1.62300

Trade update: Closed trade manaually at 30pips profit.

GBPUSD Setup - 23 May 2011

Price broke through the bullish TL and closed below it. I place a sell order at 1.6160 with SL at 1.6210. TP will set targetting at 1.6040

EP: 1.6160
SL: 1.6210
TP: 1.6040

Trade update: Closed at 30pips profit.

GBPUSD Setup - 19 May 2011

Managed to see a nice long setup after price closed above previous support which resulted in a tweezer bottom. I placed a pending long right after the IB was formed. SL will be set slightly lower at the tweezer bottom.

EP: 1.61850
SL: 1.61400
TP: 1.62300

Trade update: TP hit. 45pips profit

GBPUSD Setup - 19 May 2011

I waited for retracement to complete after price break thru to form a new low since 18 Apr 2011. Price came back up during asian time to retest the previous day high but couldnt break it. A small pin bar was formed on the hourly chart which i placed a pending sell order at 1.6160 with SL looking at 1.6190 (slightly higher than previous high).

EP: 1.6160
SL: 1.6190
TP: 1.6100

Trade update: Closed at BE

GBPUSD Setup - 18 May 2011

After watching price retest the TL drawn from daily chart, i placed a pending sell order right after the IB was formed.

EP: 1.62600
SL: 1.62900
TP: 1.62000

Trade update: TP hit. 60pips profit

GBPUSD Setup - 12 May 2011

Price tested a few time on the bullish TL but appearing each time with lesser energy to break through it. I placed a pending sell order after red IB formed near the TL.

EP: 1.6370
SL: 1.6410
TP: 1.6300

GBPUSD Anaylsis - 10 May 2011

Price bounce off near previous support at 1.6260 and close above the bearish TL. Right now, i am looking for a buy setup especially if price is rejected near the bearish TL. Price rejection to look for is at 1.6360.

GBPUSD Anaylsis - 9 May 2011

There might be a potential H&S coming up on H1 time frame. If price is able to close below the neckline then we should be able to see our target price to hit around 1.6240.

The above is based on my personal analysis. Please don't trade blindly. Market is always volatile especially when we are talking about cable.

Trade update: looks like H&S has formed and price is trending downward direction. Currently 100pips profit. Shifted SL to 1.6350. TP at 1.6240

Trade update: Trade closed at 50% at 100pips and the remaining 50% at 30pips profit.

GBPUSD Setup - 09 May 2011

I am looking for sell setup when price is near 1.6400 especially if price is being tested on the bearish TL. I place a sell order at 1.6380 after an IB is formed couple hours ago. SL will be set slightly above the high of the mother candle at 1.6410. TP will be at 1.6300.

EP: 1.6380
SL: 1.6410
TP: 1.6300

Trade update: adjusted my TP to 1.6240 due to H&S formed on H1 time frame.

GBPUSD Setup - 06 May 2011

As i was listening to election rally speeches, i saw a sell setup after price rejected (daily TL) previous resistance near 1.6440. I immediately place a pending sell order with SL set at 1.6440.

EP: 1.6400
SL: 1.6440
TP: 1.6300

Trade update: Closed at BE.

GBPUSD Setup - 05 May 2011

After watching price failed to break previous resistance level at 1.6550. I placed a pending sell order right after an IB was formed. Price triggered at 1.6520. My SL will be set at 1.6550 and TP will be at 1.6460.

EP: 1.6520
SL: 1.6550
TP: 1.6460

Trade update: TP hit. 60pips

GBPUSD Setup - 04 May 2011

There might be a sell setup coming up. Attached is the screenshot of my charting based on H1. As long as the previous high (red arrow) is holding and a red downclose candle to follow by (either a IB or best an inverted pin bar) will provide strong signal to go for a sell. If price would close above the previous high then i will wait to see price retest 1.6580 again.

p/s: The blue rectangular bar is what i would like price to turn from there to go for a short.

GBPUSD Setup - 03 May 2011

After previous trade hit my SL. I placed a pending sell right after the candle closed below the TL. My price was triggered at 1.6560 with SL at 1.6600. TP looking at price 1.6430

EP: 1.6560
SL: 1.6600
TP: 1.6430

Trade update: Closed at 50pips profit after i shifted SL to 1.6510

GBPUSD Setup - 02 May 2011

I hardly trade last week due to all the happenings rally speeches for our coming election on 7 May 2011. Really excited to see so many Singaporeans not happy with the way our current government handle the country. I hope to see the number of people who attended the rally speeches would turn out as a vote for the opposition parties especially for WP & NSP.

Aside from the GE2011, back to my trading chart again. Around 300pips range moved by cable for last week which was abit boring due to market consolition especially price is near 1.6700 (all times since 15 Nov 2010). Will it break through and head to 1.7000? We should be able to see it in the coming days. Alot of critical news for GBP coming up for this week.

I've drawn a current TL on H4 as well as S&R on my chart. It will be bullish to me based on my charting as long as the TL is holding. I am looking setup where price might rebounce off from 1 of the support level especially those in red color or price bounce off from the TL. It did happen this morning when i saw an inside bar formed after price failed to close below 1.6580 (intesection of the TL & the red support line). I immediately placed a pending buy order slightly high of the IB at 1.6620. SL will be looking around 1.5870 (10pips below the support level at 1.5880. TP will be looking around 1.6720.

EP: 1.6220
SL: 1.5870
TP: 1.6720

Trade update: SL hit -50pips

GBPUSD Setup - 25 Apr 2011

Last week, we see break out for GBPUSD to 1.6400(previous high since 8 Apr 2011) but it requires more retracement before it can break upward to retest 1.6600. As long as the bearish TL holds, we will see price move south to previous support level(1.6460, 1.6400, 1.6360 & 1.6300)

Trading plan based on current charting, i'll only be looking for Sell setup until price closed above the bearish TL.

I placed a pending sell order at 1.6500 after price rejected the bearish TL which formed a inverted pin bar on H4. SL will be set at 1.6560 and TP will be looking at 1.6400.

EP: 1.6500
SL: 1.6560
TP: 1.6400

Trade update: Trade closed at BE

GBPUSD Trading Range - 14 Apr 2011

I will trade within the yellow box until there is a clear sign of price broke out of the box. The range from top to bottom of the box is about 50-60pips apart.

GBPUSD Trade setup - 12 Apr 2011

Price didn't manage to close above the previous resistance resulting a pin bar formed on hourly chart. I placed a pending sell order at 1.62900. SL will be set at 1.63400.

EP: 1.6290
SL: 1.6340
TP: 1.6200

Trade update: Trade closed at BE

GBPUSD Trade setup - 11 Apr 2011

Took this trade after i saw price closed out of the bullish TL but resulted in a fake break out which push price back to retest previous high at 1.64250. Lost 50pips on this trade.

This is the 2nd trade i took after i saw price failed to break the previous high forming a double top. I placed a pending sell order right after the IB formed. Currenlty still in the trade with 60pips profit.

EP: 1.63800
SL: 1.63800 (previously set to 1.6430)
TP: 1.62700 followed by 1.6200

Trade update: TP hit 110pips

GBPUSD Trade setup - 7 Apr 2011

I was chatting on skype with 1 of the online gamer who is a FX trader too. Both of us spotted this setup after price failed to break the previous support at 1.6260. With a pin bar formed at 0700hrs GMT, i placed a pending buy order at 1.6310 and SL will be at 1.6260. I'll lock some profit when price is near yesterday high. Tentatively, TP looking around 1.6400 followed by 1.6450. Hopefully, with the critical news coming up for cable in a few hours time will bring her to 1.6400.

EP: 1.6310
SL: 1.6260
TP: 1.6450

Trade update: Trade closed at BE before the bank rate news was out.

GBPUSD Trade setup - 6 Apr 2011

Price failed to break higher 1.63700 (previous resistance). With a pin bar formed on H4 and a bearish engulfing candle on H1, i placed a pending sell order at 1.6320. My SL will be set at 1.63700.

EP: 1.6320
SL: 1.6700
TP: 1.6220

H4 Chart

H1 Chart

Trade update: Closed 50% at 40pips. Move SL to BE.
Trade update: SL hit at BE. 40pips profit.

GBPUSD Trade setup - 5 Apr 2011

After watching price rejected at 1.6100 with a nice long leg doji. I placed a buy order at 1.6140 (10pips high of the doji). SL will be set at 1.6100.

EP: 1.6140
SL: 1.6100
TP: 1.6260

Trade update: 50% profit locked at 80pips profit. SL set at BE.
Trade update: TP hit. 120pips

GBPUSD Trade setup - 30 Mar 2011

Miss the long setup earlier this afternoon after the pin bar formed when price rejected at the previous support level. Thus i waited for price retracement near the shorterm bullish TL. The setup came 10pm SG time after i place a pending buy order at 1.6040. SL will be slightly low at the bullish TL at 1.6000.

EP: 1.6040
SL: 1.6000
TP: 1.6120 (might lock some profit at 1.6100 due to it previous resistance level)

Trade update: TP hit 60pips

GBPUSD Trade setup - 29 Mar 2011

After price break out of the bearish TL, i am looking for long setup only. With price bounced off from the previous support, i placed a buy order at 1.6000 with SL set at 1.5970. My trade was triggered at 0316hrs GMT.

EP: 1.6000
SL: 1.5970
TP: 1.6090

Trade update: closed 50% profit at 30pips, move SL to BE.
Trade update: SL hit at BE, I got a failed trade -40pips after going short when a pin bar formed after some price rejection around 1.5990.

GBPUSD Trade setup - 25 Mar 2011

After watching price failed to break the bearish TL. I placed a pending sell order at the low of ytd after the big bearish engulfing candle formed during london's opening. The trade was triggered at the price of 1.6090. SL will be set at the high of asian time 1.6150. Although i always practice 2:1 RRR but this time round, my TP will be around 1.5990.

EP: 1.6090
SL: 1.6150
TP: 1.5990

Trade update: TP hit 100pips

GBPUSD Trade setup - 24 Mar 2011

After watching price failed to close above previous resistance level and inverted hammer formed on H4. I decided to place a pending sell order at 1.6240. SL is placed at slightly high above the inverted hammer at 1.6270.

EP: 1.6240
SL: 1.6270
TP: 1.6180

Trade update: TP hit. 60pips profit

GBPUSD Trade Setup - 21 Mar 2011

With previous support holding (yellow box), and after that small pin bar formed (red arrow), i placed a buy order at 1.6230 (inside bar) and SL at 1.6200.

EP: 1.6230
SL: 1.6200
TP: 1.6300

Trade update: TP hit 70pips

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