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British Pound / U.S. Dollar

GBPUSD Week 31 Swing Zones

By PinchPips
Updated
Patience is psychology.
Zones are set, but price action determines trades.
+200 pinched pips(pp) and rising
Comment
Nice bounce off the SZ but no entry: At this time-of-day, spreads are wide.
Looking for retest
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Comment
First trade for week 31
entry 426
SL -10pips
snapshot
Comment
Pinching +10pips
Move SL to -5pips
Comment
Closed trade be (Move of 20pips, tight stop Entry)
Reentry @ 466 (As seen in Wk 30, price does bounce off 50% level btw SZ)
snapshot
Trade closed manually
2 trades: both stopped-out be
Comment
Reentry @622
SL -10pips
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Comment
Pinching +10pips
Move SL to -5pips
Comment
Pinching +20pips
Move SL to BE
Comment
Pinching +30pips
Move SL to +5pips
dtp @8000 (US Consumer News @3pm, could cause reversal or sharp continuation)
Comment
Price didnt give the excepted whip from yesterday US consumer news, which in turn gives a nice retrace.
Second entry 50% btw SZ @491: dtp remains @8000 for both trades
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Comment
Entry @622: Move SL to+10pips
Entry @491: Move Sl to BE
Trade closed manually
Entry @622: Closed for +10pips
Entry @491: closed @ BE
Comment
Reentry @495
SL -10pips
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Comment
@495 Close @ BE(always move SL to BE after price pinches +20pips)
Reentry @607
dtp still @8000
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Comment
Pinching 40pips
Move SL to +20pips
Comment
Pinching +70pips
Move Sl to +50pips
Price move past dtp(dynamic take profit) @8000
Next dtp @7560
Comment
Pinching +80pips
Move Sl to +60pips
dtp @7560
Comment
Pinching +90pips
Move Sl to +70pips.
dtp 560 could be a new SZ(Swing zone)
snapshot
Trade closed manually
Pinched 100pips.
As hoped. Price bouncing off 560
Entry @601
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Comment
Entry @601. closed be (Always move SL to BE after pinching 20pips)
SZ holding strong: Reentry @647: Pinching +40pips
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Trade closed manually
Tight stops, quick BE, good momentum defines this week.
8 trades for total pinched 160pips.
See yall next week
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Candlestick AnalysiscurrencytradingForexforexsignalsGBPUSDmultitimeframeanalysisprofitsSupply and Demandsupport_and_resistanceSupport and Resistanceswingsetupswingtrading

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