I suspect that the tactical spooking of the concentrated GBPUSD shorts will make this experiment a failure.
Your first GBPUSD trade, today
GBPUSD sold at 1.5574, [B][I]Stopped out by training stop at 1.5644[/I][/B]
(-70 pips)
has been a victim of that.
If I were you I would postpone this experiment until April or pick another pair.
SOLD GBPJPY @ 140.44
initial SL @ 141.07
pending GBPUSD SELL @ 1.5658
initial SL @ 1.5712
(like the last 2 trades - I’m not taking these on the $200 micro account yet until monday - but trading another account)
Also a Pending BUY on GBPUSD @ 1.5720, with initial SL @ 1.5660
If my current 1Hr Gj candle closes above 140.46 I will manually close the short position
I don’t quite understand what you mean by tactical spooking - could you please elaborate?
Thanks - I appreciate the feedback
Closed GBPJPY short at 140.68 (-24 pips)
Wow I’m glad I’m starting AFTER this complex consolidation!
Anyways - another reason why I will be only trading 1 pair to start with - because the losing patches will be less damaging.
I’ve attached a chart with my expectations for GU.
I believe it will either:
A. breakout of the nearest UTL on the 4hr chart, at which point there should be lots of buying pressure and I will be long. (green arrow)
B. reversal back down to the low of the consolidation channel at which time I would be short. (red arrow)
Either way the first and second 1h candles of the move - whichever direction it is) should be of decent size, which will tighten up my stop loss quickly.7
OVER AND OUT
By painting charts the short term technical patterns are used to dupe a lot of market participants & lead them in circles.
Market participants throw their orders into the markets at a specific level, which in turn attracts more orders.
It slows when some or all decide to pull those orders back out again.
The directional flow of the price action at that point will depend on [B]why[/B] those exit orders were encashed and [B]what spooked[/B] market participants.
A lot of market participants are going long, getting stopped out, then going short, then getting stopped out, then reversing back to long, then getting stopped out again until eventually cleaned out.
This kind of tactical spooking is easily done with chart painting outside strategic price levels.
Meanwhile the big movers of the market waiting patiently for strategic price levels coming onto their radar for their high probability/low risk entries.
Why share profits when they can clean out a lot of market participants by spooking them? 
I’ll attempt to paraphrase if I may?
You are saying PA is far more reliable when it occurs within an S+R region than when it occurs between S+R regions?
Hi, can i really make money out of forex trading? How can i do that?
Woke up this morning at 630 and closed my GU short manually at 1.5589
(+69 pips)
Used. . .
I’m sure this wont last much longer - based on how long these corrective patterns have lasted in the past.
The price action this week on that pair clearly highlights the distinct lack of demand from the last time it was sniffing around this upper zone.
Quarter 4, 2009 launched prices back up as it did prior to that occasion during quarter 2 of the same year. From a technical perspective, the 1.5700-1.5800 zone is quite a prominent prior technical area of demand.
So far this week it hasn’t come close to testing the potential strength of any trailing profit & sell order stops beyond the 1.5770-5800 level, but then it hasn’t really needed to.
Every time price pops it’s head inside the prior demand zone it’s been met with a repeated selling, or supply bias – that’s where your shorts ought to be primed for action & ready to roll, not down in the (current) short-term demand area of 1.5550-5580.
If a previous area of demand (1.5700-5800) isn’t tempting fresh buy orders when it next arrives at that zone, then the logical conclusion might be to consider initiating your short orders from that level the next time it gets tested & fails.
That upper (1.5800) level is now building up a head of steam attracting a stack of 2 way order business.
Prices were repelled for the 3rd & 4th time yesterday & today. Those were the better value short order ticket entries. So, if & unless price breaks up & out in determined fashion next week, it will also act as a value short area again.
If it does break up & out, they’ll be plenty of opportunities to climb aboard on pullback longs as the various stop orders get absorbed & shuffled.
Same type of deal with continuation short orders if & when prices break down through this weeks lows, where short stops will now be building up.
Top to bottom of S&R regions are nothing more then buy/sell pressure zone or demand-supply zones.
That’s where the vibrations of the market are played out.
As soon as supply overwhelms demand & vice versa PA leaves the station to do some milage.
Would you try to catch a train outside a station?
That’s awesome!
First order placed on the $200 Micro acct:
Pending BUY GBPUSD 1.5688, SL 1.5615
Good Luck man 
I have been studying these super high return strats for a while now I like to see them go well so I can learn something. Keep posting
changed SL to 5625
(I use SAR on 1 hr charts for SL)
Going out for abit, so I added a Take Profit (just in case) at 1.5748
60 pips - a modest amount relatively, since this trade is against the main trend as defined by m.a.'s on my 1 hr chart.
I’m be keeping my eye on this thread; good luck in your endeavours and hope you get where you’re aiming! It’ll be some motivation for me to sit up and quit losing pips 
Added pending SELL GBPUSD @ 1.5637, with initial SL 1.5686.
