Kiss principle trading

TUE12NOV19: LIMIT ORDERS

COCO:

COFFEE:

TUE19NOV19: GBP/JPY DAY SHORT TRADE
A nice tweezer tops formed at the fib 162% extension on the g/j daily chart plus RSI divergence in the forming and a 4h chart evening star prompt me to enter short on this currency cross.

See and wait
Usual 2% entry or 1 unit

TUE19NOV19: TRADES UPDATES

COCO: SHORT: Risk still 1unit. Paper Profits +1.6units
COFFEE: SHORT: Risk still 1 unit. Paper Profits 0.1unit
EUR/USD: LONG: Risk still 1 unit. Paper Profits +1unit
GBP/JPY: SHORT: Risk 1 unit.
WHEAT: SHORT: Risk 1 unit. Paper Profits: -0.1u

I believe I didnt post the E/U trade, sorry guys, I am just super busy putting our house in the market and attending my other ventures :slight_smile:

WED20NOV19: TRADES UPDATES
COCO: SHORT: Risk still 1unit. Paper Profits +1.6units
COFFEE: SHORT: Risk NOW 0.8 unit. Paper Profits +1units
EUR/USD: LONG: locked in Profits +1units
GBP/JPY: SHORT: Risk 1 unit. PP +0.5units
WHEAT: SHORT: Risk 1 unit. Paper Profits: -0.3units

TOTAL AT RISK: 2.8units net or 5.6%

a part from updating the status of the trades and modifying two of my stops by using “trailing” method, nothing much has changed.

THU21NOV19: TRADES UPDATES
COCO: SHORT: S/L @ B/E. PP +1.0u
COFFEE: SHORT: Risk 0.8u. PP -0.2u
EUR/USD: LONG: S/O @ +1u
GBP/JPY: SHORT: Risk 1u. PP +0.5u
WHEAT: SHORT: Risk 1u. PP -0.5u

TOTAL AT RISK: 2.8units net or 5.6%
PROFIT TAKEN: +1unit (+2%)

THU21NOV2019: COPPER LONG TRADE 2H CHART :frowning:
Fib 62% on the 2h chart going long.
This is based on a Day Bull Engulfing Candle formed a few days back. I see the recent price dip as opportunity to buy cheaper, of course I could be hugely mistaken and in the wrong direction.
Wait and see

FRI22NOV19: EUR/USD SHORT DAY TRADE
Fib62% entry with Day shooting star

FRI22NOV19 TRADES UPDATES
COCO: S/L @ +1u locked in profits
COFFEE: S/O @ -0.8u
COPPER: S/L @ -1u risk
EUR/USD: S/L @ -1u risk
GBP/JPY: S/L @ -1u risk
WHEAT: S/L @ -1u risk

Risk: 4u (-8%)
Profits Locked in: 1u (+2%)

FRI22NOV19: COFFEE SHORT TRADE (with comments)
Why did my Coffee trade fail? This has a very simple answer, I entered this trade (as seen a few post above) with nothing else by a DAY CHART FibExt Resistance (from a previous up swing), an Evening Star and a RSI Overbought. There was not a Day Chart RSI Divergence. That is, I rushed on it.

One of the reasons my bank has increased by as much as 40% in the last 2.5 months is simply because I am basing my trading mainly on the Day Chart and I have removed trading on RSI Divergences on the Intraday Charts. These should only be used, in my trading, to fine tune the price of an entry already decided using purely the Day Charts. In the case of coffee and another recent trade using the 2h chart, we can see how easily these failed! :frowning:

I am very pleased with my trading, although it requires a lot more patience, and for most part all I am doing is WAITING, it is worthy! A 40% increase with a 2% risk each trade, I believe it is great, at least for me. I am happy with.

I have to say, I do miss the 30m-1h-2h-4h trading, but not the dropping in bank that came with it! :slight_smile:

Anyway, I have re-entered the coffee short this time with the following technicals in the Day Chart:

RSI Divergence forming…still a little premature, however, I must say. I suggest for those of you that are following my entries, that you can get a further confirmation by waiting one of more days. Perhaps on Monday/Tuesday we will have a Bear Engulging candle to boot.

Tweezer Tops, I entered using the above because of the Day TT

Intraday Chart (4h) RSI Divergence, plus a beautiful Shooting Star, Now, this may sound contradicting to my initial comments but it is not. I am simply using this extra information to make my entry, not the other way around.

Resistance level, we also have a day resistance level at this juncture.

All of the above can be clearly seen in the attached pictures…happy trading :slight_smile:

SAT23NOV19 TRADES UPDATES
COCO: S/O @ +1u profit
COFFEE: S/L @ -1u risk
**COPPER: S/O @ -1u risk (2h chart trade :frowning:) **
EUR/USD: S/L @ -1u risk, PP +1u
GBP/JPY: S/L @ -1u risk, PP +1u
WHEAT: S/L @ -1u risk, PP -0.5u

Risk: 4u (-8%)
Profits Locked in: n/a

An exciting week ahead. My profit chart has stalled recently, after reaching the 40% increase of the past 2.5 mths, so I am intending to not enter any more trades until the above 8% risk has turned into locked profits or b/e at least. You may not get any more trade entries as such, but simply daily trade updates for the next week…let’s wait and see…

Happy trading :slight_smile:

MON25NOV19: EUR/USD POSSIBLE UPCOMING BULL GARTLEY?

Ok, while I wait for my open trades to run their course, I have found this possible upcoming bull Gartley on the EUR/USD Day chart.

A few days back the E/U took out the last high of the downtrend, then it formed a double top before heading south. As seen, that double top “could be the A-point of the bull Gartley” which means that there is a possibility that we are in the A-D leg at the moment. This is the trade we are in.

I had entered short at the double and took 1 unit profit before re-entering recently. Now, I will keep an eye on this cross for a possible “right tip or D point” at the 78.6% which coincides with the “Left Tip or the second last low of the downtrend”…

Then again, in this business, all we can do is analyse, try to forecast and then act on our analysis, whether right or wrong is only for the market to decide.

Stay tune, if the above analysis pans out, I will be exit/reversing my EUR/USD short trade at the “green box” area…

Happy trading :slight_smile:

TUE26NOV19 TRADES UPDATES
COFFEE: S/O @ -1u :frowning: Entry was still a bit premature…
EUR/USD: S/L @ -0.5u risk, PP +1u
GBP/JPY: S/L @ B/E -0u risk, PP n/a
WHEAT: S/O @ -1u :frowning:

Risk: 0.5u (2%)
Profits Locked in: n/a

Golden principle for Forex trading is continuous learning, patience and get to know how to develop strong trading strategy.

WED27NOV16: COFFEE SHORT TRADE -1u :frowning:
Although I can see a Weekly Bull Gartley that has been in play for quite some time now, I seem to be a bit stubborn with Coffee… I have been profitable with Coco and other commodities but for some reason, although I do love a nice cup of coffee or a few every day, I am yet to make profits with this commodity!

So here we go once more. A RSI Div (the one I should’ve waited for in the first place saving 2 units!) plus Bear Dark Cloud Cover…

WED27NOV16: WHEAT SHORT TRADE -1u :frowning:
On a Fib 78.6% plus Bear Harami…

Now…let’s wait and see…

WED27NOV19 TRADES UPDATES
COFFEE: S/L @ -1u risk
EUR/USD: S/L @ B/E, PP +1u
GBP/JPY: S/L @ B/E 0u risk, PP +0.5u
WHEAT: S/L @ -1u risk

Risk: 2u (4%)
Profits Locked in: n/a

THU28NOV19 TRADES UPDATE:
COFFEE: S/L @ -1u risk
EUR/USD: S/L @ B/E, PP +1u
GBP/JPY: S/O @ B/E
WHEAT: S/L @ -1u risk

Risk: 2u (4%)
Profits Locked in: n/a

NOTES: GBP/JPY turned out to be a “flag” formation and it broke off to the north.

COPPER: It is a bit of a nowhere man lands at the moment, but it appears to me that if we have a bear day candle after today, we seem to have a Evening Star at the 78.6% which I might be trading south. So far Copper has failed to take out the last High which was resistance and it looks as if it is forming a Bear Crown… So tomorrow, if this pans out we will be going short on this commodity.

Happy trading :slight_smile:

FRI29NOV19: COPPER SHORT CLOSED @+2UNITS
As per my notes above, I entered short on copper as shown.

MON2DEC19 TRADES UPDATE:
COFFEE: S/O @ -1u
COPPER: S/L @ -1u risk, PP +0.5u
EUR/USD: CLOSED @ +1.5u
GBP/JPY: S/O @ B/E
WHEAT: S/O @ -1u

Risk: 1u (2%)
Profits Locked in: n/a

AUD/USD LONG TRADE: CLOSED +2.5u :slight_smile:

EUR/USD LONG TRADE (GARTLEY F62): 9/12 CLOSED @+1unit :slight_smile:
As per my previous analysis, the EU was heading to form a possible Bull gartley, I expected it to go as far as the Fib 786 however only reached the 61.8% before showing signs in the 2h, 4h an day chart of turning around. Hence I took the 1u profits from my short (Above) and now I am long
Risk is only 0.2u now that I have moved my stop to the last 2h low.

MON9DEC2019: LONG TRADE CLOSED @ +1unit:
EUR/USD has now formed a very clear Bear Engulfing candle at an opposing 61.8% fib resistance level. This could potentially mean that the EU may still go towards the 78.6% of the last upswing, which goes back to my initial assessment in previous post. We might still go towards the “D-78.6%” point of a possible Bull Gartley in formation. And there is a 2:1 opportunity here, check today’s posts

WED4DEC19 TRADES UPDATE:
AUD/USD: S/L @ B/E
COFFEE: S/O @ -1u : Quitting on this one until the current Week Bull Gartley hits its 127-168 ext
COPPER: CLOSED @+2.0u
EUR/USD: S/L @ B/E

Risk: 0%
PP: +4u

THU5DEC19: SOYBEAN LONG TRADE: FIB79 “A-D” GARTLEY LEG: S/O +1u :slight_smile:
Tomorrow, upon closing of the current day candle, I will be going long with Soybean IF the current candle forms a Bull Engulfing signal (it needs to close as it is currently showing or higher, basically)

This appears to be point “A” of a Bear Gartley in formation, hence we would be trading the “A-D” leg. This point coincides with RSI Oversold PLUS Fib 78.6% of the upswing (as shown)

Happy trading

MON9DEC2019: S/L @ B/E
I forgot to update this i think. we had the chance to move to B/E late last week

THU5DEC19 TRADES UPDATE:
AUD/USD: CLOSED @ +2.5u
SOYBEAN: S/L @ 1u risk
EUR/USD: S/L @ B/E

Risk: 2%
Profits: +2.5u

FRI06DEC19: COCO LONG TRADE: FIB79 -1u :frowning:
On the Day, 4h and 2h charts we have bull candle signals, a 786 fib retracement coupled with oversold RSI in the day chart.
I have placed an entry order as close to the market price as possible, in case I am not around the computer when the coco opens at 20:00 australia time

Happy trading