FRI07AUG20: GBP/USD SHORT 30m CHART: Closed @1.3073 +40p 
Another short adding to our current b/e short trade above.
SOLD @ 1.3113
S/L @ 1.3171 (58pips)
TP @ OPEN
TUE11AUG20: GBP/USD LONG (30m & 4h Trades): S/O @ B/E
I have entered TWO trades on this one. You can see it as such or as two separate lots with two separate targets and S/L prices.
4H CHART: 786 FIB + BULL ENGULFING
BOUGHT @ 130.74
S/L @ 130.09 > S/L NOW @ 1.3125 (SAME AS 30m trade)
TP @ OPEN
30m CHART: FIB 50% + BUY ZONE
BOUGHT @ 1.3075
S/L @ 1.3058 (17pips)
TP @ 1.3125 (50pips or Fib 127)
yes we have to keep trading simple because unnecessary complications lead to losing trades it’s a well-known principle. Most of trading edges are concentrated around simple ideas why something should work or should not work. You have to always make sure that you understand every part of your trading system.
WED12AUG20: SHORT GBP/JPY 1H/2H/4H charts: S/O -50p 
I entered 2/3 of my trade size early in the morning (4am oz time) after a 1h bear candle had formed in what it appeared to me were in the way of a nice 4h Chart Divergence.
This is the one. We have made some $$ in the one before, and also in the way back up. We missed paper profits on the last GBP/USD trade that move 1:1 our way, ending up B/E.
I hope this one is the one that will turn the tide for longer than the 40 pips we have been capturing…
To avoid getting stopped out, S/L was moved to 139.71. We got saved by this precautionary measure…
At least for now. So still in the hunt…
THU13AUG20: GBP/USD SHORT 1h Chart: what a rookie mistake! -24p
This cross was in the “Buy Zone”, why did I sold?
Onto the next
LESSON / ANALYSIS:
My KISS principle trading is exactly that: SIMPLE!
There are two types of entries, in my trading:
(1) RSI Divergence and/or Break of Inner Trend Line
(2) Fib Retracement
Both require Japanese Candlesticks confirmation. Both are in the 4h chart (GPB/JPY) or 2h chart (GBP/USD) or 30m chart (GBP/USD).
Simple!
(1) RSI Divergence and/or Break of Inner Trend Line When the market breaks the up trend (inner which is the line that joins the most recent lows) then the market enters the “Sell Zone” and we sell. The target is usually the next low. Once it breaks the low, then we will be looking for the 2nd type of entry, Fib Retracements. Sometimes an even earlier entry, is upon the market forming a divergence coupled with the candle signal.
(2) Fib Retracement: This one is even easier, once in the trend, we sell the rallies or buy the dips, simple. The TP is easier recognisable too, usually the safest is the 127 extension, although in a non choppy market, it will more than not also reach the 1618 and give us entries a long the way.
Like I said, SIMPLE! Yet, I still am making Rookie Mistakes!
FRI14AUG20: GJ SHORT 4h Chart: S/L @140.16 (-50pips)
The GJ up trend has been very strong. It finally reached the last Day High (Resistance) level it wanted to reach. Had I followed my very first instinct at the begining of the month, I would have been reaping off the extra benefits, There is no point in crying over spill milk though, so we have entered short once again.
The downside of trading using RSI Divergence is that one can have a few losses before hitting that big win. Fortunately we only had one loss, so far. In retrospect, I was a bit “worried” with my last short simply because the Candles were “not quite textbook”. But the “gambler” part of me prefered to be wrong than to miss out. Once I miss this entry, I might not have the opportunity to ride the next trend.
Without further talk, here it is.
PS I am also waiting to enter short on the GBP/USD but for the little quick trades using the 30m chart, as I have been. So too, in this cross, I have left many pips on the paper profits table, because the GU is in a range, choppy stage, I needed to adjust my targets to pick those pip up, and I didnt. Another lesson reminder!
tue 18/8/20 18:00 Relocating S/L to -50pips risk to allow the GJ to do its swings. We do not want to be stopped out prematurely…
MON17AUG20: GBP/USD LONG 2H-1H-30M Charts: Closed @ 131.68 (+70pips) 43% of Max Swing
We are looking at the 2h chart for entry at the 61.8% Fib. However, we already have a 30m and 1h charts “Hammers”. I have taken this signals with the expectation that it will give me a better price than waiting for the 2h chart.
Having said that, I have divided my trade into 2 set of stops losses levels as shown.
bought @ 1.3098
s/l 1 @ 1.3072 (25 pips)
s/l 2 @ 1.3059 (40pips)
tp 1 @ 1.3197 (100 pips)
tp 2 @ open
Exit and Reverse the above trade
-typo error, wrong cross…
GBP/USD Closed @ +70pips (at the 127 Fib Extension.)
There is no 2hr reason to exit, except that we want to take the 127 extension as TP
However, I will be looking at entering long again on the next retracement
On the daily chart I believe GBP/USD still has potential to go higher to form a Day Chart RSI Divergence before turning around
Wait and see
GBP/JPY still short with s/l @140.16 (b/e or -50pips)
GBP/USD PREPARING FOR A SHORT
The GU appears to be heading to form a Day Divergence. If the current day candle closes as a Bear Doji, we might have a “Bear Harami” in play. This coupled with the current levels of RSI Divergence, MIGHT give us a chance for a Short. However, we will wait to have a clear Intraday RSI Divergence and Bear Candles as well. Of course, a Day Dark Cloud Cover is also another bear candle signal available…Wait and See
EFFICIENCY MEASUREMENT: 90% Target
I have came up with a way of measuring my “profit taking efficiency”. This has been one of my weakness. Point in case the recent GU long trade from which we capture only 73 pips leaving the trade at the 127 and forgetting my exit rule: 127 + RSI Divergence or Break of Inner Trend Line; OR Fib 168 + Candle… I even wrote “there is no other reason by the Fib 127”…
This decision resulted in 73 pips out of the Maximum Swing (so far…) of 175 pips! giving us a 43% efficiency on that trade.
NOTE: THE MAX % EFFICIENCY MIGHT NEVER BE 100% The obvious reason for this is that I am using the “High of the Candle Swing”. Only a claravoyant could achieve 100% and be super rich. But I would like to be sitting in the 90%…
Happy Trading…
WED19AUG20 14:30: GBP/USD SHORT 2h-Day Chart +130PIPS
As per my analysis two posts above. I feel the GU might have reached the new high it needed to form its RSI Day Divergence. There is also the risk that it might want to retrace temporarily to re-fuel and continue north towards the blue Resistance Level but given the signs so far I am willing to take the risk. It is only costing us 37 pips for a huge potential, so I am in…
SOLD @ 1.3235
S/L @ 1.3272 (-37PIPS)
TP @ OPEN
THU200820: +130 PIPS IN JUST ONE DAY
Isn’t it nice when you can go to bed and wake up with almost 4x your invested money in profits?
Well, this is why I love the GBP, and this is why I usually will take the “punt” ahead of time specially when it comes to the GBP. If I had waited for the Day Chart Bear Engulfing candle, the trade that cost me only 40 pips or so, it wouldve costed 200 pips…of course we wont be trading 200 pips stops, but you get the point.
Although I AM BEARISH on the GBP and pretty much any other cross against the JPY & USD, I use the GBP/USD cross as my “Intraday/Day Trading” whilst I keep any other crosses like GBP/JPY as my Longer Term Trades (see below for the AUD/USD, EUR/JPY Day Position Trades)
So for now I got out of this one, but I am back to ride the possible or due retracement with the view that ANY LONG POSITION ON THE GBP/USD IS ONLY FOR A QUICK PICK UP, 2X OR SO. AND LOOKING TO KEEP SELLING SHORT ALONGSIDE THIS NEW (POSSIBLE) DOWN TREND…
THU20AUG20: EUR/JPY SHORT DAY POSITION TRADE: SL [email protected]
SOLD @ 125.57
S/L @ 126.47 (-90PIPS)
TP @ 121.77 (+380PIPS) OR DAY RSI 30% OR BREAK OF NEW DOWN INNER TL
THU20AUG20: AUD/USD SHORT DAY POSITION TRADE: S/O @-10pips
SOLD @ 0.7181
STOP @ 0.7280 (-99P)
TP @ DAY RSI 30% OR BREAK OF NEW DAY DOWN TREND LINE
THU20AUG20: GBP/JPY: We still keep the same S/L with this Short. This is also a “Position Day Trade” now. We will continue to add using the 4h chart. Unlike the GBP/USD that I am using for my Intraday/Day Trading…
GBP/JPY SHORT 30M TP HIT +134PIPS
SOLD @ 139.79 (-30P)
S/L @ 140.09
TP @138.65 (+134P)
I have moved our tp down to 138.65 but will keep an eye. The 30m trade pretty much turned into a 2h / 4h trade so I am hoping for further move downwards…but like I said will close it at any sign of weakness… wait and see…
The Market appear to be turning bearish, although in the case of the GJ, until we clear the last support levels (we are around this area now), we are not for sure. Having said that, I will keep looking to sell any retracements/rallies…
Happy trading
MON24AUG20: GBPUSD LONG 2hr Chart: S/O @ B/E
I had all morning and early afternoon to enter this trade, I dont know what happened but we kissed put on a much better price
Anyways we will see of it moves enough to at least give us a chance to move stop to b/e and hopefully hit our tp
TUE25AUG20 8:30AM: LONG GBP/USD 2H CHART: [email protected] +30p
Another divergence, another long. Our trade above moved our way about 1.3x enough to move our stop loss to b/e, unfortunately it didnt go to the 618 retracement where our tp was but only to the 318. We have entered long once again, also with the 618 tp
it has already moved 1:1 but I will move my stop to b/e a bit later …
