tradingfrog

May 28, 2020 10:20 AM

GBPUSD [Pending Long] Long

British Pound/U.S. DollarFXCM

Description

⋅ May 28, 2020 10:20 AM

Long Setup
- Busy Stop
- If next candle does not trigger into trade candle it (hints, set expiry to your broker hour:45 am/pm)

Setup Entry
- Entry: 1.22443
- Stop: 1.22335
- TP1: 1.22829
- TP2: 1.23184
- TP1 Reward: 3.57
- TP2 Reward: 6.86

Trade active

⋅ May 28, 2020 10:23 AM

I am in! right at price 1.22443

Comment

⋅ May 28, 2020 10:27 AM

I missed the entry can set Buy limit, if price hit TP1 before trigger cancel that setup.

Comment

⋅ May 28, 2020 10:28 AM

So sorry for so late setup...

Comment

⋅ May 28, 2020 2:47 PM

I will move TP2 to 1.24859. That is the Daily resistance level.

Catch big fish!

Don't forgot Stop move to 1.22550.

Trade closed: target reached

⋅ May 28, 2020 11:20 PM

TP2 Hit home run!

Comments

gyalusdavid

⋅ May 29, 2020 8:08 AM

Hí could you pls update GBPUSD for today ? What scenario do you see?

tradingfrog

⋅ May 29, 2020 8:14 AM

@gyalusdavid, it is middle of no where. Trading range is getting smaller. Unleas you want to trade on M5?

I will wait next big levels on H4 or Daily

tradingfrog

⋅ May 29, 2020 9:12 AM

@gyalusdavid, This is what I mean small range.

trytofeelpositive

⋅ May 28, 2020 10:20 PM

tradingfrog

⋅ May 28, 2020 1:25 PM

I have moved second position stop loss to 1.22550

tradingfrog

⋅ May 28, 2020 12:23 PM

Be patient and wait, from M5 price action bull is taking control:

tradingfrog

⋅ May 28, 2020 12:08 PM

Remember when TP1 hit move second position to breakeven + some profit for fees

tradingfrog

⋅ May 28, 2020 11:08 AM

FYI as mentioned before....

tradingfrog

⋅ May 28, 2020 10:58 AM

In case stop out there are better level give better reward:

tradingfrog

⋅ May 28, 2020 10:40 AM

Trade idea is sample and my trading logic is below:
1. Look Daily
2. Look H4
3. Look H1
4. M15 for entry candle with Stop order

Daily: has strong push in the past few days, compare the two days ago I break the downside turning point. That means buyers are there.
H4: after the daily push up yesterday whole day trying to push down and at the Daily turning point
H1: There is some price confusion with a narrow range between upside and the downside turning point
M15: Last few candle make a lower low compare to 28 May 2020 15:30 low
This is my spot look for price action the trigger candle trying to push down but fail to break the previous low making a inside bar, use Buy Stop on top of the inside bar wait for it to break.

Now nothing I can do as already in the trade, will leave it there. Let the market decide I will win or loss.