some good examples today for both break outs and 5 min day trader set ups today

1. ID trade - inside bar
2. Select trade direction - prior bar up, go long
3. Place trade - set IF done order
4. Manage trade - at 14:00 UK hours adjust stop loss

GBPJPY

Manage the trade - 10 pips below the closing price of next 8hr bar.

Considering that GBPJPY has now sold off nearly 200 pips from the high a 20-30 pip profit for a long trade isn’t too bad.

GBPUSD

1. ID trade - inside bar
2. Select trade direction - prior bar up, go long
3. Place trade - set IF done order
4. Manage trade - at 14:00 UK hours adjust stop loss

Approx 100 pips

USDCHF

Price broke the high first, filtering out the false break out move as the direction bar highlighted a short trade set up

1. ID trade - inside bar
2. Select trade direction - prior bar down, go short
3. Place trade - set IF done order
4. Manage trade - at 14:00 UK hours adjust stop loss

Depending on your spreads you might well still be in this trade for a swing short, keeping it mechanical without the spread consideration 30 pips profit, taking spreads into account as I type trade would still be open, current price as I type is 1.0220 level nice

USDJPY

Price broke the high first, filtering out the false break out move as the direction bar highlighted a short trade set up

1. ID trade - inside bar
2. Select trade direction - prior bar down, go short
3. Place trade - set IF done order
4. Manage trade - at 14:00 UK hours adjust stop loss

EURUSD

Price broke the high first, filtering out the false break out move as the direction bar highlighted a short trade set up

1. ID trade - inside bar
2. Select trade direction - prior bar up, go long
3. Place trade - set IF done order
4. Manage trade - at 14:00 UK hours adjust stop loss

Stopped out to the pip 10 pips below closing price on my data feed, another one that could well be still open for a swing trade with a different brokers data feed.

And here is one that didn’t make you any pips today

CADJPY

1. ID trade - inside bar
2. Select trade direction - prior bar up, go long
3. Place trade - set IF done order
4. Manage trade - at 14:00 UK hours adjust stop loss

Loss appreciated

Enjoy

Phil

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