[TW] 04-16-2012 - GBP/USD (Long) by Lupos (it's me!)

Trading Discussion
1

GBP/USD H4
Long = BUY !

aud_chf.jpg700×329 50.3 KB

:

Long or Short:
Long

Entry Point:
Market: 1.5846

Stop Loss:
1.5777 (because if cross bounces at 1.58 could trespass down to 1,5782 )

Profit Target/s:
1st= 1.5950 2nd= 1.5600

Reward-to-risk Ratio:
1:2

Risk percentage:
2%

Indicators used:
stochastic , dollar index.

Trade Rationale:

good uptrend-channel for our cross GBP/USD as you can see in the chart.
Stochastic in H4 extreamelly overbought.
A lots of news coming next week.
Also dollar index seems in a good top-position of a downtrend channel on daily as you can see here:

Schermata del 2012-04-14 00:15:25.jpg700×438 37.1 KB

2

bounced! nevere forget the bounces!!!

i’ve bought at 1.58 also. now is 1.59…

“until the boat is going, let it GO!”

3

Your trade outperform the trade of the week Long AUDUSD!

4

:57:
first profit taken!

maybe 0,60 is too far

5

good trade - is there a typo with your second profit target?

6

ok baby…

GBP/USD you must go! >>> GO AND TOUCH 0,60 … and than…

SHORT TIME!!! (for 50 pips… not more)

7

Short GBPUSD at which price?

8

I’m not a professional trader!

but looking at the chart:

gbp_usd.jpg700×329 48.5 KB

gbp/usd on 1h chart moved on fibonacci level perfectly.

now i think 0.6050 could be the end point of up trend movement (last level on fibonacci)

0.6030 - 0.6040 - 0.6050 could be good level to enter short.

BUT I REPEAT i’m NOT A PROFESSIONAL TRADER SO:

I already enter short on this cross at 0.5990 and i’m waiting for a down movement.

9

It does not matter if one is a professional trader or not.

Most important is that one must be a profitable trader.