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

GBPUSD Trade Setup - 15 Mar 2011

The earlier failed trade had proven that bull steam is running out thus i begin to look for sell entry. Managed to find a setup after price closed below the up trendline. I placed a sell order at 1.6050. My trade was triggered at 0917hrs GMT.

EP: 1.6050

SL: 1.6110
TP: 1.5920



Trade update, 1000hrs GMT: Closed 50% profit at 60pips. Moved SL to BE :)

GBPUSD Analysis - 14 Mar 2011

Currently, price is in a downward trend. However, if price can break and close out of the channel then we should have a valid inverted H&S coming up. I will go for short if price reject at the previous resistance (blue rectangular box).




I've missed this long setup as i was not around my laptop when the setup is there. Let wait for it to retrace back to it previous support so that we can go for long. The support (orange box) has to hold in order for a long setup to be valid.



I placed a pending long after that pin bar rejected at previous support. Trade was kicked in at price of 1.6125. However, setup was there but it doesnt go according to my direction i wanted. SL hit at lost of pin bar at 1.6090.



Trade update: SL hit, -35pips

GBPUSD Trade Setup - 11 Mar 2011

With price failed to break asian high as well as previous support turned resistance, i placed a sell order at 1.6055, SL set at 1.6080. Trade was triggered 0236hrs GMT.

EP: 1.6055
SL: 1.6080
TP: 1.5990



Trade update: TP hit. 65pips profit

GBPUSD Trade Setup - 08 Mar 2011

After watching price failed to break asian high, with a pin bar at 5am GMT, i decided to place an agressive sell order at 1.6200 with tight SL at 1.6220 due to londo time is not open yet. My objective is to catch the bear wave down again before london session thus my stop loss is very tight for this trade. 1.6180 need to be broken inorder for bear to push it lower.

EP: 1.6200
SL: 1.6220
TP: open price for now.



Trade update: Trade closed at 1.6178 due to TS at 50pips.

GBPUSD Trade Setup - 02 Mar 2011

After price failed to close below the short term bullish TL which ended with an engulfing candlestick. I placed a buy order at 1.6260. My trade was kicked in at 5.27pm SG time. SL will be placed slightly low of the bullish engulfing candle. I'll monitor closely when price reach 1.6300 as it is a whole number.

EP: 1.6260
SL: 1.6210
TP: 1.6370



Trade update: Trade closed at 1.6310, 50pips profit.