Gbl's trade ideas

Trading Systems
1

Hi,

I am going to start posting my trade ideas. The purpose of this is to make me stick to my plan by making my ideas public and not taking bad trades!

Why am i doing this? because like many of you already know being disciplined is the difference between a solid and consistent trader and a cowboy! If i have my ideas out in the open I (hopefully) wont deviate it from it and make low probability trades!

So anyways here is my idea for today.

Buy [email protected]

Reason: Previous swing low offering support, 50 period moving average and 50% fibo retracement confluence.

Any feedback/comments is also welcome…

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2

Good idea…about both that is :slight_smile:

However, what’s the rest of your plan? Sure the entry idea seems solid enough, but what about your exits and money management part of your plan?

3

Yeah I realised that I didnt put those details in until after i posted…

I usually have a standard 30 pip stop. Take profit at the last swing high
at .9690.

4

Unfortunatly my entry didnt get hit, price well and truly moved to my take profit area and some :frowning:

5

Possible short coming up on the pound around the 1.5800 area.

Long term swing and short term swing fib, and previous day high confluence.

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