wuweitrader

Still marking up $GBPUSD

FX:GBPUSD   British Pound/U.S. Dollar
67 13 2
Added an action/reaction set and a multi-pivot line. Still watching price and marking up my chart.

Decided to share what I am seeing and watching.
ForceFollower
2 years ago
Yes, a good eye. :)
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wuweitrader
2 years ago
Waiting to see how the bar closes to see if I want to set up a trade. Up until now there was no structure for a stop.
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ForceFollower wuweitrader
2 years ago
Right, no higher high, no higher low.
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wuweitrader ForceFollower
2 years ago
Yep. I was thinking about trading off of that first bar that closed with nice separation. But with the way price moved into the line, I would like to see it really holding.... I'm 'buying another bar'. Taking out some highs, etc. would also help. Although with confluence, the idea of buying close to the bone is also not that bad. But, I wanted to wait till after the data was released... too much noise and volatility then.
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ForceFollower wuweitrader
2 years ago
Hey, now you've got a higher low with a nice separation. I'm long, looking to tp @ 1.687.
snapshot
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wuweitrader ForceFollower
2 years ago
You are absolutely right :). The only thing is I am in three positions. The AUDUSD short is obviously very longterm (weekly), but I am still short the USDCAD and long the USDJPY. I am not sure yet whether I want to be in four separate positions. But I will post the trade if I decide to enter.
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ForceFollower wuweitrader
2 years ago
I've exited usdcad; my stats were saying "exit at 1.08585"; below that the odds are lower. But you can trail a stop and see what it does.
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itaskar ForceFollower
2 years ago
where is the higher low Piotr? I cant see it.
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ForceFollower itaskar
2 years ago
It's to be seen only on M15. :)
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itaskar ForceFollower
2 years ago
aa, yes, ok :) you right
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itaskar itaskar
2 years ago
higher low should be after new highs, and it isnt on this chart, or?
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ForceFollower itaskar
2 years ago
You're right. After new highs it is safer, but not a guarantee. :) I simply like higher lows for buying (and lower highs for selling) - as a "trigger setup".
+1 Reply
wuweitrader
2 years ago
Decided to enter an order with stops below the poke lower and a target of the recent support turned resistance (about 1.6854)
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