[TW]07-13-2012 - GBP/USD (SHORT) by [fx srikanth]

Trading Discussion
1

Currency Pair GBP/USD , Time Frame - both 1H and 4H

4H chart view

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1H CHART VIEW

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Long or Short: SHORT
Entry Point: AROUND 1.5585 TO 1.5595
Stop Loss: 1.5650
Profit Target/s:80 - 100 PIPS AT AROUND 1.5500
Reward-to-risk Ratio:1:2:1
Risk percentage:2%
Indicators used:STOCH,RSI,FIBONACCI,TREN LINE AND TREND CHANNEL
Trade Rationale:THERE IS NO SINGLE EVENT FOR GBP…SO SENTIMENT ALSO DOWN…
AND ALL INDICATORS IN 4H CHART SHOWING THE SAME THING…
STOCH AND RSI ARE IN OVER BOUGHT CONDITION…AND EVEN IN 1H CHART ALSO STOCH AND RSI ARE IN OVER BOUGHT CONDITIONS…
AND FIB RETRENCHMENT AT 61.5 WILL KICK THIS PAIR TO GO DOWN…AND TREND LINE ALSO…

Trade Adjustments:NO CHANGES…IT MUST GO LIKE THAT 100% BECAUSE, ALL INDICATORS ARE REPORTING SAME…

SO ALL THE BEST FRIENDS…

2

hi…friends…i am fx srikanth…now i am at 70 pips profit…and still on trade…dont close deal…waite fo 1.5500 to hit and close your deals…

all the best…thank you…

3

Why at 1.5500 I’m very new

4

hi friend…thanks for your reply…see my analysis above …my analysis is telling that 80-100 pip target for today…thats why i am waiting for that…if market will reversed, then i will close with 50 pips profit…thats all…

and where are you from?

i am from india…thank you…all the best…

5

hi friends…i am going to change the entry again…soon…

i am closing the deal with 70 pips profit…

i am trying to enter with new entry…because…in 4h chart…i found that there is a much better chance to enter with short position…of gbp

as soon as possible i will place entry position…thank you…

6

I was also going to wait till the MACD crossed over to zero line to sell…Since I plan to do mechanical trading…I think that’s what it is called…“Techincal”??? I hope I didn’t miss out…

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all the best…keep go on…if possible in form to me here…so that we can rectify our mistacks… thank you…

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My friend congrat…

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k k friend…see what happen with this news release…market looks like change of trend…so what to do?
any advice?
i think after some time it will come to normal…am i?

10

I planned this out and hung on toooooo LOOOOng… I am going to try to scalp the rest ot the day and see if I can get My pips back… maybe try to deal about 2-7 cst a.m. it gets prettty wild when the US markets open…

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entra en la pestaña de baypips.com/school/ la escuela, comienza en lo básico,y así tendrás claro que estrategia usar, yo llevo 2 semanas en esto y estoy terminando high school , y en la plataforma real ,ya he ganado mas de 200 US, es lo mejor para entender, busque harto y me quedo con esta pagina. ( usa traductor, hablo español )

12

He estado trabajando a través de los babypips un poco a la vez … … Creo que voy a seguir tu consejo y lo tratan como un acabado joband real de la escuela … Estoy impresionado con los resultados … Le doy las gracias …

13

Lost 100 pips there bro… :expressionless:
But anyway, losses occur

14

I did ok this week … I am practicing my entrances to a trade…and my risk…and timing… 7 trades,5 wins,2 losses… 320 pips profit… 2 very stupid movesl… I placed my stops Too close…No Risk-No reward…Nave a great weekend…Talk on Monday…

15

currently watching gbp/usd… On the patterns…I believe to be watching a ‘bearish rectangle’… put my short order in at 1.54840… buy limit 1.54440…stop at …1.55400… I am a FNG… but I am going to let this ride… drink a few and hit the sack be checking back at 0100 CST… appreciate your comments???