GBPUSD Trade Setup - 19 Jan 2011

I was looking for an entry after price retraced to it previous support level. Finally, a long tail shadow candlestick formed followed by a bullish engulfing candlestick. I decided to place a pending buy order at 1.6010 as i've been observing that it has a strong support level at 1.6000. My trade was triggered at 0403hrs GMT.


EP: 1.6010
SL: 1.5985
TP: 1.6090 (previous high)



Trade update: Stop loss hit -25pips.

GBPUSD Trade Setup - 18 Jan 2011

After price retracement to it previous support level around 1.5860 with green inside bar formed has given me a hint that the bear steam might be running out and bull should be coming in. I waited for another 3 hours to confirm my entry. With an upclose green candle after the inside bar, i decided to place a buy order at 1.5920 although i can place it earlier after the inside bar closed but i decided not to take the risk. The trade was triggered at 0202hrs GMT. With RRR 1:2 and i am looking at my TP to be around 1.6020 but due to 1.6000 (whole number as well as previous resistance) thus i decided to set TP at 1.6000

EP: 1.5920
SL: 1.5860
TP: 1.6000



Trade update: 0905hrs GMT, i am currently 120pips in the money with trailing stop set to 50pips. As i noticed price didnt come down much earlier thus i decided to remove my TP and set using trailing stop loss since the bull is so strong.

Trade update: Trailing stop loss hit at 1042hrs GMT. Profit 87pips.

GBPUSD Trade Setup - 13 Jan 2011

Missed some nice setup early this week and hopeful to spot 1 today. I was waiting patiently for the retracement to be completed. Finally saw a low shadow doji with it low rejected at around 1.5718. Thus i decided to place a buy order at 1.5760 and set my SL at 1.5710. The trade got kicked in 10.54am GMT.

EP: 1.5760
TP: 1.5860
SL: 1.5710



Update: 9.57am SG time, trade is closed at 90pips profit as i am heading to bed thus i closely it manually.

GBPUSD Trade Setup - 05 Jan 2011

Happy New Year to all !!!!!

It's been a wonderful 2010. Let's hope everybody will be doing the same too for the year of 2011.

After resting for almost 2 weeks without looking at FX chart, finally start to launch my chart yesterday. There was some big movement due to some good news on GBP yesterday.

After price failed to break the previous resistance at around 1.5650 on the H3 chart, i wait patiently for a setup to appear. There was a inside bar candlestick formed at 10am GMT thus i placed a pending sell order at 1.5590. The trade got kicked in at 14:55GMT.

EP: 1.5590
SL: 1.5650
TP: 1.5400



p/s: i will only be using Oanda FX chart to post my trade as this is the current platform that i am trading with.

Trade update, 0634hrs GMT: moved SL +30pips, adjust TP to 1.5450
Trade update, 1410hrs GMT: closed 2/3 position and set trailing stop and stop out at 1.55231.
Profit: 50pips.