Bollinger band trading with MAs

Yeah, we’re thinking the same thing then. Just couldn’t enter that buy as bad as I wanted to. GBP/USD is too questionable right now. Been looking for a reason to trade this pair. What price are you thinking your entry will be at? I’m thinking in the sub 1.4250ish area, got the bottom line on the 4 hour bollinger in that area. I also notice no economic data to drive this pair until Tuesday, weak data too, French PPI. :slight_smile: EDIT: Just looked again and saw German Consumer Confidence at 8:30 EST which should be as expected or better, so, could spark a slight movement.

Yep counter trend trade is a crap shoot. :smiley: I’ll go with 1.6153 TP1, 1.6163 TP2, 1.6190 TP3 (all shorter term).

Entered GU at 1.6137

assuming price goes where i think it will after this small retracement some where near the 1.4273 to 1.4282 area if my daily stoch then continues to come out of the oversold area as it hits 1.4343 area ill keep my trade going and probably take some profits off around 1.4404. and the rest around 1.4465 if my daily stochs stays oversold after this ill probably just take profit at 1.4343

all really depends what happens lol

p.s. i only use the 2:1 bollinger, pivots and resistance levels, and two stochs so idk whats going on with all the other bollingers lol

edit

ill probably place a buy limit at 1.4282 tonight if i dont manually trigger the trade

Understood. :slight_smile:

Hmm… interesting… I dont see I break back down to those levels… I just see an up? All beit a retrace against the longer down. :slight_smile:

well ur using all your bollingers im using a 2:1 bollinger and two stochs. the 1h stoch is nearly overbought so im expecting it to drop somewhat but my daily stoch shows oversold sooooo im looking for a small down (or atleast a reversal in stoch) then a movement upwards

this is all EU btw just makin sure were on the same page :stuck_out_tongue:

Yep with you on that EU looks north also. :slight_smile:

last post was 2666 :stuck_out_tongue: neways lol

i supposed i could simply enter long now, price has broken a minor resistance but my stoch will reverse soon
after the stoch reverses i could look for a short signal and hedge the trade some until it reverses again into the overall long trend

1H stoch reversal finally happened and a small down movement has occured - going to bed, but limit at 1.4282 on EU

Nearing the 200MA on the Daily EU chart. Not saying it will get there but that will definitely be a level of support that I would like to take a trade off.

Went long at 1.4295 on EU. Dont like the look of GU today. :slight_smile:

Yep, GBP/USD is a damn range quagmire. :slight_smile:

read the EU perfectly after the stoch overbought reversal price went down and hit my buy limit at 1.4282. price only went negative 4 pips. stoch then reversed into a long trend and hit my TP level at 1.4343 made a nice 61 pip profit :slight_smile:

Yes I was thinking earlier that was a nice read by your good self. Took the up for 55 and a quick 12 on the turn.

I think we both did ok given the time of year. :wink:

ya we did good :stuck_out_tongue:

well stoch has reversed again and looks like the price could be heading to the same 1.4282 point so ive placed another buy limit there this time with a TP level just shy of the 1.4343 mark. idk if i mentioned this on the last trade of not but i use a simple 30 pip stop usually

Hmm… dont like the angle of 10:1 boll. I’ll wait and see. :slight_smile: What settings you using? Fast & slow with standard (5:5:3) settings?

fast and slow 8,3,3 doesnt look like itll hit the 1.4282 point anymore :frowning: ohwell i made 61 pips today im happy lol

EDIT

hmmm nvm it looks like it may hit the 1.4282 point now :slight_smile: but we shall see

It’s thinking about it. :smiley:

yep i just checked it came pretty close and has about 1-2 more candles before its oversold so i think itll hit it :smiley:

EDIT

moved my buy limit up 3 pips to the low of the current candle