Plan the Trade / Trade the plan

#18 Trade Plan

RSI >80. My guess is it will come down for support on the triangle.

Bias is long so reduced risk size and TP on the 61.8 retracement.
Tight management is necessary.

Sma 8 will have to move up to have an entry on a R/R of 1 / 2.

#18 Trade Setup

Can't sleep . So taking the time to share my trade setup.
I'm home from work tomorrow anyway

My guess is we will get a move down for the retracement to the 4250 - 4200 zone before we move back up to the 4550 zone.
Rsi is >80.

We have a breakout on the triangle and a large candlestick on the daily. Price could move higher for a new uptrend.
Will only trade when I have an entry on EMA 5 / SMA 8.

For now placed a sell stop below SMA 8 @1.43583
S/L @ 1.44233 (-65PIPS)
TP @ 1.42283 (+130PIPS)
MAP @ 1.43383 (+20PIPS) when it hits 1.42933 (+65PIPS)

R/R = 1 / 2
Risk Size = 1%

#18 Trade Plan
http://www.forexfactory.com/showthre...89#post8881689

#18 Trade Entry

Ok sell stop got hit, EMA 5 crossed SMA 8 down. Momentum H4 is down.
Trading the retracement probably so closing in MAP as fast as possible.

After that probable move up to 4540?

Outlook GBP/USD | 21/04/2016
EMA 5 crossed SMA 8 down, momentum H4 down. Entry on trade #19.

1. Trend D (EMA 200) - DOWN
2. Speed D (EMA 55 / EMA 21) - DOWN
3. Momentum D (SMA 8/EMA 5) - UP
4. Momentum H4 (SMA 8/EMA 5) - DOWN

1. Bias D/H4 (High and Low, EMA 55 /EMA 21) - LONG
2. Entry H4 (SMA 8/EMA 5, RSI) - SELL

#18 Trade Plan
http://www.forexfactory.com/showthre...89#post8881689
#18 Trade Setup
http://www.forexfactory.com/showthre...86#post8882386

#18 Trade Exit

Stop Loss got hit on trade #18. Price moved back up to the 443x resistance zone.

Then move down probably because of the good news on USD.


#18 Trade Plan
http://www.forexfactory.com/showthre...89#post8881689
#18 Trade Setup
http://www.forexfactory.com/showthre...86#post8882386
#18 Trade Entry
http://www.forexfactory.com/showthre...87#post8884287

#19 Trade plan

EMA 5 is about to cross SMA8. Will update the outlook when H4 candle closes.
Bias is long so will look for entry's in the green zone.

As said last week about planning trades these are the plan trades for the week, happy piping.

#19 Trade Setup

Price moved higher to the 450x zone. For now I am seeing a possible evening star on the H4.

And a possible evening star on the Daily.


I placed a sell stop below the middle of the first candle on the H4. Since we are in an uptrend I will manage the trade as a retracement.

TP for lot 1 is on the crossing of the 78.6 fib with the trendline.
For lot 2 no TP.

Will have to wait and see if the stop gets hit. This could be the last move till the end of april.
We will have to watch EMA 21 (Blue) and EMA 55 (Brown). If they cross there could probably be a big move up.

Sell Stop @ 1.44490
S/L @ 1.45240 (-75PIPS)
TP 1 @ 1.43490 (+100PIPS)

With the other lot without TP we have an R/R of at least 1 / 1.3. And hopefully higher.

Nice results

Thanks

#19 Trade Entry

Took a sell trade.
RSI >80 and hit on the resistance line.

R/R 1 / 2

Sell @ 4576
S/L @ 4647
TP @ 4452

Hopefully next will find an entry on the uptrend.

#20 Trade Setup

EMA 21 is crossing EMA 55.
Speed D is set to UP.

-> This could indicate a big move up. Maybe beyond EMA 200 so we (officially) have an uptrend.

EMA 5 crossed SMA 8 on the H4.
Momentum H4 is down so we would have a sell entry.
I already got in trade #19 earlier and I don't think this is going to be a very big move.

A break of the RSI trendline or DOWN momentum on the daily (crossing of SMA 8 with EMA 5 down) would prove me wrong.
Otherwise this will probably be a small corrective move.

For trade #20 I have placed a buy stop @ 4639
S/L @ 4539 (3 X -100PIPS)
TP Lot 1 @ 4759 (+120PIPS)
TP Lot 2 @ 4814 (+175PIPS)
TP Lot 3 @ 4889 (+250PIPS)

This gives me a Risk / Reward of 1 / 1.81.
Trading with the bias so risk will be 2%.

As price moves lower I will manage this setup accordingly.

Outlook Update GBP/USD | 27/04/2016
EMA 5 crossed SMA 8 down, Momentum H4 Down.
EMA 21 crossed EMA 55 up, Speed D UP

1. Trend D (EMA 200) - DOWN
2. Speed D (EMA 55 / EMA 21) - UP
3. Momentum D (SMA 8/EMA 5) - UP
4. Momentum H4 (SMA 8/EMA 5) - DOWN

1. Bias D/H4 (High and Low, EMA 55 /EMA 21) - LONG
2. Entry H4 (SMA 8/EMA 5, RSI) - SELL

#20 Trade Setup Management

Nice hit on the trendline.
Have moved my S/L to below the trendline and buy stop above SMA 8.

Buy stop @ 4572
S/L @ 4497 (3 X -75PIPS) -> Adjusted lotsizes accordingly.
TP1 @ 4757 (+185PIPS)
TP2 @ 4812 (+240PIPS)
TP3 @ 4887 (+315PIPS)

This gives a risk / reward of 1 / 3.29

Adjusting S/L on the daily until MAP.

Then
- Lot 1 trailing stop of 75PIPS.
- Lot 2 Adjusting on the daily
- Lot 3 Stays at MAP until swing low.

#19 Trade Exit

Closed my position on trade #19 because of the bounce on the 50 Rsi Line.
Closed in 25 PIPS.

#20 Trade Entry / Exit

Buy stop got hit, there wasn't enough momentum to break the last high.
Looks like we have reached consolidation and I'm looking at an ascending triangle which is a sign of reversal.

Closed all positions. Closed in 30PIPS.
(Still waiting to catch another big move.)

#21 Trade Setup

Because of the ascending triangle I have a new short setup.

Sell stop @ 4530
S/L @ 4610 (2 X -80 PIPS)
TP 1 @ 4450 (+80PIPS)
TP 2 @ 4345 (+180PIPS)

Risk / Reward 1 / 3.25
Trading against Bias so risk is 1%

#22 Trade Setup

If we connect the wicks instead of the open/close we get a bullish pennant which is a sign of continuation.
If the uptrend continues this could mean a big move up.

- Speed is UP (Crossing of EMA 21 / EMA 55)
- Momentum D is UP

A break of the pennant would mean extra comfirmation.

Buy stop @ 4643
S/L @ 4573 (-3 X 70PIPS)
TP 1 @ 4773 (+150 PIPS)
TP 2 @ 4993 (+350 PIPS)
TP 3 @ 5463 (+820 PIPS)

Risk / Reward = 1 / 6.29
Trading with the bias so risk is 2%

Let the market decide where it want's to go at this point.
It all comes down to management.

#22 Trade Entry / Management

For trade #22 buy stop got hit, for now on each lot 50pips up.
I moved my s/l to breakeven.

And added a trailing stop on lot 1 of 110pips.
For lot 2 adjusting S/L on the daily.
Lot 3 will remain @ breakeven until I can close in MAP.

#21 Trade Setup Management

For trade #21 I moved my sell stop to below the SMA8. To catch a reversal.

Sell stop @ 4619

Have to go to work now so not much time to adjust my charts.
Will do this later on.