Thread: ForexGump Week 19 Trade signals!

Trade Signal GBPJPY

If you have been following our signals, you would have known that we seldom post signals on Mondays as we seldom trade on Mondays.

This signal is likely to happen tonight. Do stay tune and don’t miss an excellent opportunity to buy GBPJPY cheap.

GBPJPY H1



Trading by levels have reaped encouraging results so far

I see a bullish divergence in my momentum indicator. Any pull back to zone in green is a very safe buy.

Stops is just a few pips below zone in green where we have a previous support zone.

Potentially 350 pips profit with a risk of only 80 pips.

Lets hope we start our week profitable!

Happy pipping at ForexGump!

We are still bearish on GBPUSD.

Price has broken out of upsloping equidistant channel.

Any pull back to significant resistance zone is a short.

GBPUSD H4



Structured planning for our trades as always

Potential down move of 300 pips with a risk of 50-70 pips.

Good risk to reward as usual.

Hi guys! It is Wednesday and the market is still very quiet. After a long wait, we spotted a potential setup in GBPJPY!



Wait for price to retest highlighted(yellow) support zone

GBPJPY is pending to break through the downslope trend line as seen in the chart. Most likely it will fail for the first attempt, retest the highlighted(yellow) support zone and then attempt to break again.

Note that this is a day signal but we are look for an early entry. 46 pips stop loss vs 700 to 1065 pips reward, too good to be true? Remember to take profit at every level. Let’s be patient and wait for this setup to happen!

Saw 2 signals at one time, our AUDUSD signal last week ended up with break even. This week AUDUSD retrace to strong resistance and give us another signal to short again!



Bearish divergence pending trend line break

Once again our favorite setup, bearish divergence! This signal is only valid until the price breaks through the upslope trend line. Patiently wait for the price to retest the highlighted(yellow) resistance area before shorting it! Risking 40 pips to reward 330 – 520 pips. SL is 15-20 pips above the upper resistance line and remember to take profit accordingly!

Finally had a bad week in months.

Many excellent setups missed my entry.

Had my first trade on Wednesday which died almost immediately. GBPUSD stopped me out by 4 pips before plunging back down.

Coming to Thursday, was trying to figure out the harmonics and gartley/butterfly pattern and disregarded all my profitable trading rules.

“Do not fix what is not broken”, this message sunk deeply into me.

Did a few funny trades today Friday 13th like longing AUDUSD with a excellent short setup like this.


Do not ever fix what is not broken

After losing 80 pips, I went through trade signals by Mumu and found out that this was a perfect short setup instead as highlighted in Trade Signal #62.

I proceeded on to long EURJPY in anticipation of a Gartley chart pattern which apparently I have no clues about.


Gart what?

Was stopped out with 100 pips after a movie session with my friends.

Netted a total loss of 260 pips this week by doing a few other stupid trades which I will not share here.

Enough of theories, experiences are always the best teachers.

Will stick to my usual rules of engagement next week which had made me(as well as mumu and my readers) profitable for the past 4 months.

1. Follow the trend
2. Trend the divergence chart pattern breakout setup
3. Enter at the exact candle that confirms the chart pattern break out, do not chase after a missed trade
4. Always wait for a retest of strong support/resistance zone if trade is missed
5. When in profit of 50 pips, set stop loss to break even
6. Have faith to hang on until targeted profit is hit
Final Comments
We are real life traders who will make mental errors every now and then.
If there are any successful traders who brags that they have never lost money in trading, you know they are real liars.
Important lesson for the week, do not fix what is not broken.
I will rebound well next week and not let the draw down this week affect my trading decisions next week.
Happy pipping at Forexgump next week!