GBPUSD thoughts

[willoneau]

Move stop to BE

 

[willoneau]

Outlook for moving stop - three possibilities at moment -
false break of current low
continuation above high
break of low and continue down

 

[willoneau]

So why move to BE (talking to myself), it covers two of the three possibilities and scratches if the other occurs, so a win in my eyes

 

[willoneau]

Move stop to below low, short signal and signs of weakness

 

[willoneau]

Exit market 2872,
6.2pips profit

 

[Triple B]

Gday Will. No GBP USD for me tonight. Got GBP AUD order for short under support .
Woke this morning to find GBP USD moved long nicely but not to my target near 1.3. then stopped out.
No disasters as gold short saved me once again

 

[Triple B]

BE is good. No Loss and can enter again if moves in right direction again .

 

[willoneau]

My thoughts exactly

 

[willoneau]

Hi Triple B, got quite busy after you left.

 

[willoneau]

I'm looking at shorting up around 2900 target

 

[Triple B]

Yes . Thats why i like to leave trades on over NY session. I have played with auto trailing stops before and will test with 100 trades soon. Would have put me in profit last night but testing targets at the moment.
Just looking at GBP USD chart now . I Call that the crab market .Moves sideways and claws grab money either side of trading range. Got smashed by the crab last week!

 

[willoneau]

I noticed it can be like that too, usually until Frankfurt opens.

 

[willoneau]

Entry Long x 2 , 2880

 

[willoneau]

Yes . Thats why i like to leave trades on over NY session. I have played with auto trailing stops before and will test with 100 trades soon. Would have put me in profit last night but testing targets at the moment.
Just looking at GBP USD chart now . I Call that the crab market .Moves sideways and claws grab money either side of trading range. Got smashed by the crab last week!

I played around with auto trailing stops but can only use pip size to trail on my platform which is subjective, which i don't like so don't use.

 

[Triple B]

Are you using MT4?

 

[willoneau]

Gday Will. No GBP USD for me tonight. Got GBP AUD order for short under support .
Woke this morning to find GBP USD moved long nicely but not to my target near 1.3. then stopped out.
No disasters as gold short saved me once again

It actually got up there not long after you left, do you log off at particular time?

 

[willoneau]

cTrader

 

[willoneau]

Ever thought of staying until Frankfurt and London close? , as they close at same time. I'm looking at it but find it hard to tear myself away.

 

[Triple B]

No. Need to be up at 7am to go to work so 12:00am is log off time

 

[willoneau]

I'm going to stop trading after they close tonight, if in market and going the way I believe is the bias in the short term.