TUE20AUG20 14:30: SHORT GBP/USD 30M CHART
SOLD @1.3103
S/L @ 131.20 (-17P)
TP @ 1301.3069 (+34)
amazing man. i do not understand this pattern and it is too complicated for me but you make it sound so easy. best of luck mate.
GBPUSD SHORT
You can treat this trade as either 30m for a quick 1:2 pips or as a 2h/4h chart trade for a much larger profit. I entered it as 30m and will keep an eye for 50pips +
GBPJPY SHORT
SHORT @ 139.70
SL @ 140.30 (-60pips)
There could be a better entry once the market rallies to around 140 (the 618 or 786 fib retracement) using the 30m chart. Once a bear signal forms here, we can enter the rest of our positionâŚ
THU27AUG20 10:30 GBP/USD & GBP/JPY SHORT 2H CHARTS
GBP/JPY: DIVERGENCE, BREAK OF TREND LINE AND CANDLES
GBP/USD: DIVERGENCE, 786% RESISTANCE AND BEAR CANDLES
thank you tornados
you too
FRI28AUG20 GBP/JPY LONG: SL@BE
Buying the 78.6% Fibonacci retracement of the last upswing. The GJ had hit Over Bought RSI territory, and I am expecting it to form a RSI Divergence by rallying above the most recent high. So our TP is placed just below the 127% extension for a
50pips risk vis.a.vis.155pips reward
Wait and see.
Bought @ 140.26
S/L @ 139.76
TP @ 141.81
COMMENT ON GBPJPY LONG TRADE: Closed @141.01 +75p
I have moved this trade to break even early because there is a strong possibility that the GBPJPY might turn around at the 50% or 79% Fib retracement level of the recent âdownswingâ (the move from the last high to the low of whrre our entry was. The reason for this thought is that the Day Chatrt is already showing a RSI Divergence at this most recent high. Plus now we have a Day textbook Harami coupled with RSI Overbought signals in the intraday charts.
Whilst looking purely at this charts I thiught there is a possibility for a higher high plus Intraday RSI Divergence to allow us a SHORT, there is as much chance of a turn around earlier, forming a Bear Gartley around the 140.80 (50%) to the 141.20 ish (79%).
CONCLUSION:
Watching this LONG very cautiously whilst waitibg to see a 4-hr beat candle signal at the 50%_79% area (140.80-141.20) to enter SHORT
MON31AUG20 11:00 GBP/JPY SHORT: S/o@-60pips 
As per my comments above.
sold @ 140.78
s/l @ 141.38 (-60pips risk)
tp @ open
TUE01SEP20: GBP/JPY SHORT
Divergence at the 4h chart. CAUTION: I am not convinced of the âBear Candle Signalâ, the candles formed donât fall in any of the categories I know⌠So I am going a bit on the gamble side here.
Like I said many times, because I am focusing on only a few crosses or instruments, I prefer not to miss out on a trade which can be for the long run. I am still waiting to enter that reversal and have that âPERFECT TRADEâ where I ride the trend for longer than 500 pips⌠wishful thinking?
Wait and seeâŚ
MON1SEP20: AUD/USD SHORT: 09/09 TP Hit 0.7209 (+188 pips)
SOLD @0.7398
S/L @ 0.7420 (22PIPS)
TP @ 0.7209 (+188PIPS)
MON01SEP20: GBP/JPY SHORT: S/L Now @ 142.12 (+22p): Trade Active
Finally, I believe I hit the reversal point of the GJ
Had I realised earlier the âtargetâ of the recent up trend, I would have saved myself 60pips in the last short and made an extra 100 pips in my previous longâŚ
The GJ was heading towards a very strong âjunction of fibonacci levelsâ, there was a 127% and 161.8% extensions PLUS the 78.6% retracement on the Day Chart (shown in this picture as blue and pink dotted lines)
This area was the 142.50-142.90. I had placed an order at the 142.50 but I âchickened outâ. I never like setting orders without having a âCandlestick confirmationâ since I do not know for certain anything!
Anyway, luckily I had checked the 30min chart at the right time giving me a better entry than the current levels. The GJ will rally however, as it usually happens at the beginning of a reversal after a very strong trend. So I suspect to have another entry at the 78.6% levels of the current downswing.
Anyway, enjoyâŚ
THU03SEP20: AUD/USD SHORT: TP Hit +41pips
I have been âon and offâ getting in and out of the AUD trades, leaving me âdissapointed with myself for getting out of winning tradesâ. Simply because of âbank management decisionsâ.
This time I am planning on letting this trade play out.
I like the G/J as my main source of trading, coming from a âpunting backgroundâ I like the âquick wins or losses, either way I want it to happen quickâ. Which is what happens in horse racing, within a minute we know if we lose or won. The sterling gives me that kind of results, it moves lots and fast, faster than the other crosses. The volatility is big. On the other hand, the AU allows us for cheap entries (10-20 pips in the 1h chart), and I have picked recently two good trades but I decided to get out of bordedoom, only to see it hit my original TP within 12 hoursâŚ
Anyway, I am working on my patience, and this one trade is the beginning. Let;s hope we start with a possitive result though⌠to encourage further AU tradingâŚ
Wait and see
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GBP/JPY DOWN TREND: ACTIVE TRADES
TRADE1: MON01SEP20:
Sold @ 142.34
Profits Locked in S/L @ 141.44 (+90pips)
TP @ 134.34 (800pips)
TRADE2: THU03SEP20:
Sold @ 141.65
Profits Locked in S/L @ 141.45 (+20pips)
TP @ 134.34 (731pips)
TRADE1:
TRADE2:
FRI 04SEP20 NOTE: It is quite likely that the GJ is ready to rally towards the 618-786 area of the recent downswing. These fall in the range of 141.88 - 142.26. For this reason and to avoid getting stopped out prematurely, I have adjusted my Stop Losses for the two active trades above. Please check it out.
G/J DOWNTREND FORECAST
This is my projection for the GJ for the upcoming weeksâŚsee what happensâŚ
I created this forecast right after the first shortâŚ
UPDATE TUE08SEP20: We have now both trades at profits and with lots to ride. I am looking at entering a third trade but the pound has not given me a 4h fib to do so yetâŚwe got to keep waitingâŚ
MANAGING THE NEW DOWN TRENDS IN GBP/JPY & AUD/USD
The market has now shown signs of a new down trend in the forming. We picked pretty much the top of the GJ and AU but on the latter I managed to âmess it up by getting out at small TPsâ. This was kind of âpart of the plan in a wayâ, since I was planning this time around (on this new trend), to use the GJ as my âlonger term pyramid tradingâ whilst using the AU as my âget in and out using the 1h or so charts for quick cash in of profitsâ.
I came to the realisation that Gannâs approach to trade management is the best approach. Whilst we âlose paper profits on the way while riding the trendâ, by means of the loss between a swing bottom and a retracement level, we also take the risk of losing more when we try to âre-enterâ or when I lose patience and âtry to ride those retracementsâ. When analysing my past performance, I see this pattern repeatingâŚgetting out early (losing opportunity for higher pay out), trying to undo a mistake (loss in pips), trying to ride the âretracementsâ (losing pips)âŚetc⌠At the end, giving back 1/2 to 3/4 of my profits.
Seeking âactionâ is just NOT WORTHY!
I am looking at having a separate little account where I trade 1% of my normal size just to âfeed that itchââŚthis will be a lot beneficial to me in the long run! Or even just play around getting in and out with my demo account to âproof that patience and less is more approach pay better dividends in the long runâ!
So the PLAN MOVING FORWARD:
-Keep adding to my AU and GJ trades so I will list them in one post and keep updating the same post as I add along until I get Stopped Out and there are Day Signals of a reversal.
LETS STICK TO THE PLAN!
FRI04SEP20: SOYBEAN SHORT: Closed -10pts
SOLD @ 963.91
S/L @ 981.91 (18points)
TP @ 905.89 (58points)
There is a chance for Soy to go as high as 972.66 (the 162% extension of the major recent Day/Week swing from the low of 806.64 to the high of 909.12. But it is only a possibility, so you can either take the short now or hope to get a better price. Either way, our stop is well above the 162% extension.
THE TECHNICALS: 4H Chart Divergence + Bear Signal Candles
POST-TARDING NOTE:
I have revisited this trade from a âbigger pictureâ view point, and we will be very lucky if Soy heads our way. Soy is still in a very clear uptrend with no signs of reversing (weekly , daily charts), so I am considering reducing the size of my trade when soy opens tomorrow at 9:30am
FRI04SEP20: SUGAR SHORT
We are just getting ready to sell Sugar at either the 50% fib (12.322) or the 62% fib (12.43)
Depending where the bear signal candles are formed. At the 50% we have past support - turning possible resistance, whilst the 61.8% is closer to the down trend line.
now wait and seeâŚ
MON07SEP20: COCO SHORT
This is a âposition tradeâ, using the Weekly and Daily charts.
SOLD @ 1819.7
S/L @ 1866.7 (47pts)
TP @ 1473.7 (346pts)
NOTE: The plan is to keep adding to all my Position Trades using either the 4h or Day charts and to âTrail the stopsâ using the same.
MON07SEP20: GOLD SHORT: CLOSED -15p
Anticipating the break of the long term up trend line here.
I believe is about time for Gold to retrace and head south, but we will wait and seeâŚ
SOLD @ 1930.70
S/L @ 1952.50 (21.8pts)
TP @ 1688.70 (242pts)
NOTE: The plan is to keep adding to all my Position Trades using either the 4h or Day charts and to âTrail the stopsâ using the same.
10SEP: NOTE: Gold is in a very strong up trend as we all know, I felt it was ready to break the up trend line for a retracement, but it failed. I decided to stay out and wait for a complete day bear candle to open and closed at the south of the Day Up Trend Line. Pretty much below of the two intersecting lines shown above.
When or If that happens I will be re-entering short.
Also its important to note that the only indication for this is the Monthly Harami/Doji that formed in Jul-Aug. And there is no other resitance levels that can confirm my theory. Therefore, as much as I want to trade my âgut feelingâ I rather wait for now. WE have plenty of other really good trades availableâŚ