GBP/USD Trading

This long position got closed this morning. GBP turned back around and my SL got hit. End up with 73 pips in the bag. :slight_smile:

It would have been another good short opportunity after it turned around but I was at work. :mad:

I missed the early part of the downward move during london session but caught the price fib retracement level around 62% this am so I made my entry there.

short entry @ 1.9748 + 80 pips so far.

Final Update:
I closed this position when I got home from work . +70 pips gain.

Will wait for next entry opportunity.

Hi guys, I was following gbp pretty close this am before the london session. I was pretty sure my bias would be to short this pair. I really thought that the bears have taken over the market but was surprise to see a huge nice looking bullish candle right immediately after the session started. I waited to have my confirmation and sure enough it happened. So here are my 2 long entries.

long @ 1.9684 + 39 pips so far.
long @ 1.9700 + 27 pips so far. (added position)

Another happy trading. :slight_smile:

Dear Ram,

Could you please explain why you longed at 1.9684

What was your entry criteria prior to execution ?


E. Lang

Hi Elang,

A visible gap occured @ .9684, rsi > 50, stocs heading up & not ob/os zone, cci > 0, momentum ok. every indicator was within reasonable expected parameters. as soon as the price got over the next resistance @ .9696 I added to my position.

I was following the trades for awhile then the price came back down after hitting major resistance @ .9730. After it dropped big time I closed both positions. It’s a big battle bw bulls & bears right now.

wow – what a comeback. +2 pips

Interesting approach.

I noticed the gap myself, but i’d never traded on windows before so i prefered to wait it out untill after it broke the falling trend line.

The price reached .9733 and came back down to test the trend line from what i can see, so its either up or down now.

Regards and thanks once again.
E. Lang

The signal and setup is confusing now so I’m staying on the sideline and let the smoke clear out. There will be another day.

Good Trading Ramrocket. What setting are you using for RSI,macd,stoch. Thank you for sharing your insights. I have learned alot from you and Elang.


Hi Pwegner, glad to help.


Happy trading! :slight_smile:

Thanks for your help Ramrocket. Have a good week trading.


Hi guys, the last 2 trades I made the last couple of days were losers -30 pips.

Each losing trade gives you something to learn. One thing I have learned this past 2 days is that to minimize your risk and enhance your trade success is to place your entry near or at S & R levels.

When the signal occurs and you can place your entry there then you protect yourself from potentially wide stop losses.

Trade from late last night during asian session:

Long entry @1.9616 +46 pips so far. The price went above 120EMA so I am expecting a rally from point of entry.

It’s been rough trading hours. I set my SL @ 50% fib level and the price retraced all the way back down 50 and hit my SL. :mad:

Euro is having a hard time breaking R around 1.2970 and have tried multiple times to approach it then gets repealed immediately. Seems like Gbp depends on the Euro to make the break before it can continue.

+40 pips profit.

There is not much to do this last couple of days. GBP is in trading range. I would rather stay away from trading this pair when its in range. Maybe today something different will happen.

Range Filters:
What do you guys use for filters to know when this pair is in range?

I use ADX. I check to make sure it is below 20 & preferable falling.

Thanks topgun. I remembered you mention that in another thread. I was experimenting ADX today and I think I will use 10 instead of 14.

I might join you by using 10 instead of 20. I have seen nice trends form with it at 20 so I don’t think I trust that setting. When it is real low like below 10 it’s great watching the pairs bounch between two support & resistance lines all day :slight_smile: . You can sometimes time it perfectly by having your TP get hit and then your limit order to go the other direction. Let me know how you make out using 10.


Open long entry @ 1.9676
SL = 1.9643
+58 pips so far.

Hi guys, I need your advice.

Short cable to 9635 and then long from 9635 :smiley: now!

Not my call, I got it from FXS Community - Home

This is my first time seeing GBP/USD & EUR/USD trending the opposite direction so my GBP trade got stopped out. I entered 4 trades last night during asian session. 3 are currently active.

long gbp/usd @ 1.9486 sl = 1.9471 (stopped out - 15 pips) :mad:
long eur/usd @ 1.2961 sl = 1.2946 (+38 pips)
short usd/jpy @ 121.60 sl = 121.75 (+23 pips)
short usd/chf @ 1.2527 sl = 1.2542 (+37 pips)

I’m closing all my positions. Time to go to work this am.
eur/usd +41 ips
usd/jpy +26 pips
usd/chf +42 pips

I’m happy with 109 pips profit. :slight_smile:

Hi guys,

What God giveth, he taketh.

Well, you found the perfect indicators to use and you have them all over your charts. You charts becomes highly decorated with these indicators like a military uniform patched with congressional medals of honor and in time make your charts becomes messy and confusing at times. Eventually you will have to take them down. Well - its time for me to take them down.

Stocks came off first, then rsi, macd, then adx, and so on.

Now all I have on my charts are the 2 MAs that gives me a reference point. I am now mainly trading based on price, candle sticks, suppor & resistance, trend lines, and fib retracement & extension levels.

I guess this is what they call in the business “Trading Naked”.

Happy trading everybody. :slight_smile: