FEW River Ride: GBPUSD radar

Tuesday, August 17, 2010

GBPUSD radar

GBPUSD long

Summary
4 hour (H4) bouncing off upward trendline

Daily(D1) in an uptrend above the river

Weekly(W1) in an uptrend but below the river[risky]

Watch for:

H4 full candle close above river(50EMA)

5EMA crosses river(50EMA) on H4

5/12 EMA angle & separation up

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River Trading Plan

River Excursions Test

* 5/12 Creek must come out of the 50/100 River.
* Must have one candle’s Open/Close completely out of the Creek.
* Entry on the day after that; entry price the open
* Entry test on: BOTH 5 and 12 leaving the river
* OR just the 5 leaving the river
* Exit test when the price touches the 12, the Creek Shoreline
o
+ Or, Exit when the 5/12 Cross
+ Or, Stop Loss 200 pips
+ Or, Stop Loss at 2x ATR

ENTRY EXAMPLES:

1. Just the 5 Leaves the River OR

2. Both the 5/12 Leave the River

One candle open/close after above, THEN enter

EXIT EXAMPLES:

1. The price touches the 12, Creek Shoreline

2. The 5 and the 12 Cross

3. The Price touches the River

Note: I believe this is a 4 hour candlestick timeframe

FEW River Ride

Trade postings

Tuesday, August 17, 2010

GBPUSD radar

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