Looking great!
im not sure how this trade is doing. MT4 hasnt shown any difference in the rate since friday night, and it is currently stuck 1.608 which is dangerously close to my stop. im not sure if it hit my stop over the weekend (1.6100). if it did then i have made a loss 
Hey THEWALLHITME, I thought you had entered earlier, so you may in fact have shorted the retracement which is likely to go to 1.6120-40.
If it doesn’t work out, just recap your last trade and move on.
Hi All,
Hope you had a restful weekend! We had some great setups last week and look forward to another great week. Looking to buy this pair around 1.6050-35. Preferred entry 1.6035.
[B]GBP/USD DAILY[/B]
Strong support hit, which may trigger resumption of buying. Let’s see how the levels below hold when tested. LH Resistance at 1.6182 and 1.6200 are likely areas for sellers to step back in.
http://img861.imageshack.us/img861/593/gudaily.jpg
[B]GBP/USD H4[/B]
http://img43.imageshack.us/img43/684/gbph4.jpg
[B]GBP/USD H1[/B]
89% resistance now acting as support.
I thought i may have entered at a bad time, but the daily candle broke the previous low quite significantly, so i thought that could be a reversal?
If i am wrong, would a counter trade be a good idea?
Yes I see what you mean, but usually after the breaking of significant support, there is strong pullback before continuation. By counter trade do you mean open a long position while you have your short open? If so, I would not suggest that. Waiting for the market to pullback to your entry, which I think it will do, and closing the trade there would be a better plan. You cant avoid losses in FOREX, so let the trade be and if you can reduce your loss as the market pulls back, do that.
1.6065 BUY level triggered.
1.6050 BUY level triggered.
1.6035 BUY level triggered.
Early TP levels hit!
very interesting. I must say after reading your post last night i lost my nerve and closed the trade at a loss. If i have fully listened to you my position could have gone positive and i could have bought. Unfortunately my inexperience showed. i am currently long on GU at around 1.608. what TP levels have you selected?
this is one for the journal thats for sure.
GM twhm, sorry to hear that. No matter how long we trade for sometimes its good to walk away and let the trade run. The results are better as our emotions dont get to interfere. That’s a good entry. I just closed my long positions as I expect some pullback for further buying later.
as i am a little shaky on swing trading, what are you expecting the pull backs to be? unfortunately i am not at my personal pc atm and so i cant see my trade which is a bummer.
I am expecting pullback at 1.6110-15 down to 1.6080 or 1.6060 before and if any further buying. Daily PVSL support is at 1.6085.
Manage that trade, with BE price is at 1.6101. Going back to bed until later in the morning.
T1 Hit on GBP/USD Long Trade, followed by short setup. Support at 1.6096.
My Bias is BULLISH on this pair towards 1.6180-200 and above 1.6290. Counter short setup shown below. We have a higher low and higher high so far, so this could be trend reversal.
Think I will take profits at this 1.6140 level and return in the evening. Happy Trading All!
hello,
Just got home from work and checked my trade. boy was i nervous. anyway, im glad i listened to your advice yesterday and went long. not only did i cover the loss of the short trade (which would have been devastating had i let it ride), i made a tidy 111 profit.
i would love to put my chart up and discuss some things with you, but how the heck do i attack charts?
Hi TWHM , I a glad to hear that you built the courage to accept the loss, move on to the next trade and let your profits run. Good trade my friend. You will have to use imageshack or a similar image hosting site to upload the image and get a link from there to post here.