GBP-PiP-Chaser

GBP-PiP-Chaser

Looking over the price movements, a few lessons have had to be learnt. Firstly looking a trend lines and previous patterns on the 4 hour time line - whilst market sentiment is bearish as such there are clear swings between the lower lows and lower highs. Now for the lesson I had to learn the hard way. I entered a trade yesterday, looking at the possibility of...

GBP-PiP-Chaser

Nice little win here. Still awaiting a respected zone in the market - price continues to drop with bears in control of the market but keeping a keen eye on 1.2 level to see bears pull the market back. I wonder how low price will fall ...

GBP-PiP-Chaser

Saw a nice little set up to trade between support zones - took time and waited for 1 hour confirmation. Now looking for next trade set up from action at 1.200 if market rejects the support and bears pull price lower. Weekly target for trades hit financially yesterday and today so will be looking for educational trades on the demo account as trying to keep strict...

GBP-PiP-Chaser

Nice little set up I saw last week, buying off the test of support zone. TP hit - SL was moved into profit on friday. Nice start to the week :)

GBP-PiP-Chaser Updated 

Going with the idea of selling GBPUSD: I can see a range of support at 1.23000 which has been broken. My entry point would be 1.225 with TP at 1.2000 Analysis based off 4 hour chart - Currently trading just above 50 EMA; awaiting confirmation candle to break the 50EMA which would support my entry. Stochastic supports sell, awaiting confirmation of bear pull...

GBP-PiP-Chaser Updated 

Could be a complete blithering idiot here (most probably am) but this is the point of bouncing ideas off each other ... Looking at a potential buy at 1.21800 ... 5 Min chart: 23 06 22 test of support zone at 1.21800 resulted in bull run to circa 1.2300 4 Hour chart: Support at 1.218 formed since 17 06 22 4 hour stoch shows support of my idea with hike above...

GBP-PiP-Chaser

Based of 4 hour chart. Clear confirmation of candles trading above 50 EMA Stochastic support bullish trend. Upward trendline respected from 1.19879 Bull breakout from downward trendline from 1.23578 to 1.22009 Awaiting confirmation of break of sub resis zone of 1.23551 What are your thoughts and trades today? Thanks RR

GBP-PiP-Chaser

EURGPB: On this learning curve of trading, I succumbed of thinking I knew everything and jumped into this trade on a whim! Based of 4 hour chart: Candle confirmation of trading below 50 EMA, when I entered this trade the candle had just broken the 50 EMA :( Downward trend line was respected. Bearish trend broke support 0.85590 It is a lesson that is well...

GBP-PiP-Chaser

Looking at the bearish momentum which topped out at 1.23500, I have decided to short on this trade. Ideology behind trade (using 4 hour chart): Clear resistance and 2x candle confirmation of resistance to break 1.235 2x candle confirmation of inability to break 50EMA Downward trend-line respected. Stochastic confirms selling momentum on 4 hour chart. What are...

GBP-PiP-Chaser

Hi Guys My first ever post! I have been self teaching a few principles and wanted to put my ideas out there to get constructive criticism and develop my skill set and thinking attitudes better - all ideas are being tested on a demo account. Principally the Pound has been falling for some time now and whilst the 50, 150 EMA show a bearish trend, I opted for a buy...