Kiss principle trading

[TitanTito]

FRI 26JUL19: G/J 15M CHART: LONG FIB 79/62 ENGULFING: (CLOSED -1u)

My trade above was a bit rushed. I needed to consider the possibility of the pound moving down to the 78.6% fib and place my stop below it or at the last low (preferably). This 15m candle formation is also supported by a 2h bull piercing pattern.

Stop is below the 78.6%
If this trade fails, I need to wait for a clearer 4h candle at or past the 78.6% with stop at the last 4h low swing ALTERNATIVELY, we might also have a bear engulfing candle on the Day chart at around the 61.8% of the last day downswing, giving us a possible Short Trade.

Wait and see…as usual…

[TitanTito]

MON 29JUL19: G/J 1H CHART: LONG: (CLosed @ B/E 0u)

We are at the 78.6% of the larger timeframe up swing, usually we will see a bounce here, as such I am taking a trade for a 2:1 attempt after a 1h hammer, harami, engulfing and RSI over sold signs. The target is below the 38.2% of the latest downswing
Also, we might see the G/J going back up to form the “D” entry of a possible 4h chart bear gartley.

happy trading

[TitanTito]

MON 29JUL19: SHORT 30M CHART (DAY DOWNTREND): CLOSED B/E 0u
Since G/J has resumed its downtrend at least for now we should favour going south reason why i moved the above trade to b/e as soon as I saw the quick move north but got stopped out at the time the 30m formed a bear signal at the 61.8% fib so we are supporting the south winds.

Another break even. I will wait for a 4-hr chart to re-enter. Too much volatility at these levels.

[TitanTito]

TUE 30JUL19 18:00 G/J 30M CHART: SHORT

On a Evening Star and 61.8% fib in the direction of the current trend. Although still in oversold areas we might still be able to squeeze in some profits/units.
It was a shame I got stopped out prematurely on my short a few hundred pips ago !

[TitanTito]

MON 5AUG19: G/J 4H CHART: LONG ON DIV2: (S/L -1u)

I usually prefer to have a 3point divergence when entering against the main trend. However, I am happy to take the punt here given that all the timeframes are in oversold mode. So on Monday morning I am hoping to enter long. I wont be getting up at 5:30 am to do it so if the market gaps up I will need to place a limit order and hope it catches me. Wait and see…happy trading!

[TitanTito]

UNPUBLISHED: LONG G/J +2units
Yesterday I entered this trade, unfortunately I was too busy to published. I managed to pick up (after a few failed attempts!) +2units, however, this was a “lucky hit” since by tomorrow is when we should see an entrance on a Day Chart Bull Engulfing and RSI Divergence. We might get this entry a bit early overnight using the 30m/1h charts Bull Gartley (possibly)

Wait and see for that one…

[TitanTito]

Tue6Aug/Wed7Aug: Possible G/J Long Trade

As mentioned above here is the possible long opportunities coming up…Caution: This is still against the Main Trend, had I entered the short trade on the Evening Star in the Day Chart, I might have only been “reducing my position” and “not” entering long… but unfortunately I failed to see the bigger picture at the time, and now I am looking for “scraps”…

[TitanTito]

Wed 7Aug19: G/J Long 4h Chart Hammer/Fib62: S/L -1u
As described above

[TitanTito]

Thu 8Aug19: G/J Long Day Chart Div2: R2.5u > T8.3u: S/L -2.5U

My S/L was just hit in the above trade, I hesitated to place my stop at or below the last Day Swing low (128.00) area, and it cost me. This time I am placing it there, even though we have a 30m Swing Low at 128.80, I am being extra cautions. So I am treating this trade as a Day Trade with a Day Target.

But I will continue to trail my stop as soon as it has cleared the 128.80 low area and keep trading longs using the 30m chart with 30m fib targets.

This is a 2.5u investment for a 8.3 units profit.

[TitanTito]

MON12AUG2019: G/J LONG DIV3 30M CHART: Closed @+1.5u

mon12aug19 16:30: S/L now @0.5u risk

[TitanTito]

MON12AUG2019: G/J LONG FIB62 30M CHART: Closed @+1u
Adding to our Div3 trade which has a stop at the bottom of the 4h hammer, I have now entered another long trade on the fib 618 bounce of the last 30m upswing

[TitanTito]

MON12 & TUE13 AUG 2019: G/J 30M CHART: FIB 79 (Risk 0.5u) & 7FIB 9 (Risk 1u)
S/L -1.5u

after taking the above profits I managed to re-enter under same conditions.
I have now two open LONG positions. The first one as described just above, I took profits then re-enter at same or near price. Now I have confirmation of a 78.6% fib and engulfing candle. The second trade entered just now, is also a Fib 78.6% and engulfing.

Both open trades have a 30m Fib 127% extension target.

Both candle signals are highligted in BLUE and I have marked the 79% fib as well.

Now is wait and see…

Note: the first trade is now at 0.5u risk having the same S.L as the second open trade.

[TitanTito]

TUE13AUG19: AUD/USD SHORT FIB 382 30M CHART (-1u)
The G/J has been a bit tricky well really I havent been doing well with it lately.
So I am trying with my second best performer, the AUD/USD
Going south for a 2:1 r:r

wait and see

[TitanTito]

Tue14Aug19: G/J Long Trades 30m & Day Charts: +2.5u, +4u

I entered these two long trades, one on the Day Hammer and the other on a bounce from the largest upswing 78.6% fib in the 30m charts. The 127 of the 30m (the first target) was hit and surpassed, the second was just missed by a few pips so I closed it now.

The 30m tp was 2.5u, whilst the day was 4u (approx)

Finally picked it right and recoup most of my losses of last week…

It is quite obvious that this could happen, the pound has been on a very strong down trend, so trading 30m chart at this zig-zag juncture is a risky business. Lesson learnt? hope so!

When this possible reversal takes off, then it will be our chance to take on 4h and 30m trades.

I hope some of you picked these ones up…using the fib & candles. Hammer is my favourite, one of the highest performer of my trades, even against the trend. However, is of course a lot more powerful in the direction of the trend, when it is hitting a fib retracement

happy trading!

[TitanTito]

Wed14Aug2019: G/J Long Trade 1h Chart -1u

A bit of a late entry. Was busy all day with house chores and missed out on a better entry around 12:30 this avo. Nevertheless if the trade is to work I can still catch a 2.25:1 trade.

I rather trade the Fib 61.8% and Fib 78.6% but after a nice pick up last night, I rather risk 1 unit than missing out…Besides, given that I mainly am only trading G/J I can afford to trade more often.

[TitanTito]

Wed14Aug19: G/J Long Fib61.8%: S/L @ +2.5unit taken so far; Rest S/L @ +0.25u
Another attempt…
I have to keep in mind that we are also bouncing from a 78.6% of the last downswing, since the G/J has (or is) on a downtrend, I might be swimming against the current here…

16/8/19 Still survived, the bounce. I relocated my s/l just below the 4h swing lows which falls below the 61.8% of the 4h up swing. So we are risking a full 1unit still.

19/8/19 This trade has been at b/e since last friday (forgot to update), reason why I have now (today) entered my EUR/USD Long Trade (see post below)

[TitanTito]

MON19AUG2019: EUR/USD LONG DAILY/4h/2h Charts
As you know I am mainly trading the GBP/JPY cross currently. But this trade was identified by my son Dimitri. He breezed thru his forex training I gave him a year ago. He is a successful painter and one month old father of Ilia. After a very busy year, he is resume his Demo Trading.

I will be entering this trade on Monday as soon as the market price is right.

The Techs:
Day Chart Hammer at the 78.6% Fib of the last upswing
4h & 2h Bull Engulfing candles

[TitanTito]

MON19AUG2019: LONG EUR/USD DAY CHART:(S/Out @BE)
As mentioned above, this morning I entered this Long Trade based on the technicals mentioned above

It hasn’t yet moved enough in our favour to move our stop at b/e, so we cant count our eggs yet…
As usual, wait and see…

TUE20AUG2019: I have done further analysis on this trade we entered yesterday. It has now formed an “inverted hammer” on the day chart. We can also see that (although not “textbook”) the EUR/USD has formed what it appears to be a “Gartley 79” or a Gartley with a “D” point at the 786% fibonacci retracement level.

This further confirms my confidence on this trade.

Furthermore, in the next post, we also see that the EUR/JPY downtrend appears to be “exhausted” and this further confirms the probability that the EUR may go higher from here.

So there is still time to enter LONG on the EUR/USD cross since it retraced back to yesterday’s prices after forming a inverted hammer (above post) OR alternatively, some of you may want to also take on this LONG opportunity on the EUR/JPY.

As part of my KISS principle strategy, I am looking to only enter ONE trade at a time and only open a new trade once the first trade is at B/E at the minimum.

In this case, I have the G/J on B/E and still looking as it might hit one of my TPs (I have 3 separate lots on it) and the E/U open trade at 1unit risk.

I am monitoring the G/J closely to take 1 unit profit at least at any time I see signs of turning around so that I am NOT losing with either trade… if that makes sense, making my total risk “0 units”.

So stay tune for my updates as we move along this week.

KISS PRINCIPLE RULE…A REMINDER…: "LESS TRADES, MORE PROFITS"

WED21AUG2019: ADDED TO LONG POSITION AFTER BULL ENGULFING FOLLOWING HAMMER & INVERTED HAMMER ON DAY CHART

Following the hammer at the 78.6% fib retracement of what it appears to be a Gartley 79, the EUR/USD has formed a Inverted HAmmer and now a Bull Engulfing. If there is such a thing as a HIGH PROBABILITY TRADE, well, this is it. For this reason, I have added to this trade today, however the target is under the last high to cash in and be in profits.

I also have taken 1 unit profit on the G/J which is still FREEROLLING.

NOW…THIS IS A GOOD PLACE TO BE, NOW IT IS UP TO US TO MAXIMIZE PROFITS.

So, between the two trades I am risking only 1unit for a nice 15+ units profit targets

Wait and see…

MON26AUG2019 UPDATE: I had a meeting with my son last night were we discussed the EUR/USD trade, he reminded me that “it is best to place your stops at the last swing low/high” … and he is right. I have been far too aggressive lately, taking far too many chances, more than usual. I guess my “punting side” has been taken over my “trading side”…

So, I will be looking at getting back to basics, accepting a lesser R:R in order to have a more “conservative” approach.

As we can see, the same Day Trade would’ve worked out just fine for us if we had place the stop at the “x” swing low…

Point taken…

[TitanTito]

**TUE20AUG19: TRADE IDEA: EUR/JPY DAY CHART: LONG: **
As mentioned in the above post…

[TitanTito]

NOTE: THIS IS A RE-POST OF MY G/H LONG TRADE FROM A FEW POSTS AGO…

Wed14Aug19: G/J Long Fib61.8%: S/L @ +2.5unit taken so far ; Rest S/L @ +0.25u
Another attempt…
I have to keep in mind that we are also bouncing from a 78.6% of the last downswing, since the G/J has (or is) on a downtrend, I might be swimming against the current here…

16/8/19 Still survived, the bounce. I relocated my s/l just below the 4h swing lows which falls below the 61.8% of the 4h up swing. So we are risking a full 1unit still.

FRI23AUG2019 UPDATE: Ok, so the EUR/USD was stopped out prematurely. I still feel it will continue but after so much whiplash earlier on I had decided to move to b/e upon a rally which it happened only to retreat back down. One of the reasons I love the GBP/JPY so much is that our trades don’t take as long to either win or lose!

On the G/J, this trade is my star at the moment. My second TP was hit last night, leaving me with one lot at the moment sitting at +0.25u locked in profits. And so far I have collected 2.5units in profits from the previous lots. I will continue looking for longs, since it is quite obvious that we are now in a confirmed reversal and hopefully in a new longer up trend. My next TP at the moment is sitting at 500pips away from my initial entry. However, I intend to keep moving it up and to keep adding to this trade on fib retracements.

So let’s stay with the bulls for as long as the G/J let us!

CORRECTION: AFTER REVIEWING THE LAST LOWS ON THE 4H CHART, I HAVE RELOCATED MY S/L AT B/E AND NOT AT +0.25UNITS

as mentioned, I intend to stay on this trade and add to it as much as possible so I need to stay with the Daily chart more than the 4h charts…

MON26AUG2019: CLOSING LONG TRADE & REVERSING TO SHORT(?)
The G/J has now formed a Bear Engulfing Day Candle at the 50% Fib retracement. I can’t ignore this, so I will be closing the Long Trade as soon as I can. It currently sits at +0.5units, we’ll see if I can at least get this price.

I am now looking at reversing to Short Position. There is always a chance that this was either a secondary retracement rally of the long term down trend, since the daily chart has not taken out any previous high. In back of my mind I had this thought that the G/J may be heading towards the 124 area were we have a strong Support Level previously formed at the weekly chart.

On the other hand, the G/J has also formed an opposing Weekly Signal: Piercing Pattern candle!

So I will stay on the sidelines for a bit until I can see a clear opportunity to short or see if we get a Day Bull signal after testing the Weekly PP…

MON26AUG2019: TRADE CLOSED TOTAL PROFITS +2.5units
Let’s start with the G/J… Unfortunately I wasnt able to cash in the last 0.5units, today the market gapped down and hit my S/L. But this last lot was already at B/E so no damage there

Now I have re-entered LONG given the Week Piercing Pattern that makes me believe we are in a Trend Reversal, so I am joining the Bull side at the moment.

TRADE G/J: LONG 2H CHART: F79% + HAMMER

NOTE: I still placed my stop on the “agressive side” below the Bull Candles instead of the Last Low (see EUR/USD post update above). Mainly because I started late today and missed a better price. Wait and see…

TUE27AUG2019: G/J TRADE CLOSED AT B/E