GBP/JPY LESSON LEARNT
In the last three GJ trades I had 2 wins and 1 loss. The latter, came not only at that price but the fact that I missed out on another 200 pips! in just the very next day from my Long Trade.
As I had mentioned earlier, the GJ is in an Uptrend (Day Chart), and as such I must (at least for now) favour the long trades if in doubt or at least to “ride the trend” while is still intact.
The day chart had not shown signs of turning around yet, it only just (after my last short) shown an overbought as it was to be expected. But certainly there is no Trend Line Break or RSI Divergence that tells us this is turning around.
I made the mistake of using the 2h chart and mis-reading the RSI divergence which I had used for my 3rd last trade (short with +90 pips profit above), and use it again as a 1-2-3 point divergence which DIDN’T HAVE a 4h Bear Candle Signal at all to support such analysis.!
This costed me another 200 pips in profits, given that I “Exit & Reverse” on the next trade when the 4h or Day chart signals are there.
The signals I so much refer to are the same I used to show the 30m “super kiss trades” for GU.
- Day or 4h Break of Trend Line, and/or
- Day or 4h RSI Divergence
AND
- Candlestick Signal
Other entries come from Fib Level retracement, Gartley.
This is what I call “KISS” trading. As long as two of the above occur, then I am due to exit/reverse my trade. It is simple.
Based on my live trades and research on GJ, this approach when executed perfectly, has provided the following results:
+5,527 pips since 3/9/19 until a perfect execution of the last buy (which by the way, we should still be long and using 139.00 as an exit), with an average of only 2 trades per month and 9 days per trade.
I am happy with simply trading this way, it requires only to spend 5 min analysing the Day chart once a day and then checking the charts for another 5-15min every 4 hours! What can be much simpler than that! 
So, all in all, I didn’t execute my last long perfectly, only 50% (200 out of 400 pips), at least for now.
But I intend on improving on my performance from here on!
You will notice that I will be only posting trades for the GJ from here on as well.
I am also increasing my investment per trade to 10% of my trade capital, since it is almost the equivalent of trading 10 instruments at 2% and having 5 out of 10 active trades… 2% x 5 = 10%
I also will be using WD Gann’s pyramid approach:
10% on entry
5% on retracement
2.5% on next retracement
Let’s only hope that my execution rating increases from 50% to 90% and I should be happy! 
Happy trading!
TT
