Thread: ForexGump Week 20 Trade signals!

Trade Signal #64 GBPJPY

1st signal of the week.

Reverted back to my typical fxgump setup.

GBPJPY H1


I recognised a bull trap and am waiting for a retest to go short

Stop loss should be around 70 pips above pink zone using previous high as a reference level.

Profit target is 210 pips based on fib 127.2 extension of down move.

High chance we will start the week right this time round. My short is already triggered this morning.

Happy Vesak day everyone!

First and foremost, this is not your typical ForexGump trade signal.

The results of this trade will not be recorded by us no matter the results.

I mentioned I was studying harmonics for last week.

I decided to give it one more chance this week and not write it off so fast.

Have placed in a queue to short EURCHF with a very small position.

EURCHF H4


EURCHF should reverse after price falls for 1 more round

Targeting 1.2350 based on 127.2 extension of 2nd drive.

Ideally, price should test 1.23(138.2 extension of 2nd drive) as the 1st drive down met an extension of 138.2.

If there are anybody out there who knows alot about Harmonic patterns, please share it with us.

I figure out that this is a powerful concept which can be applied to enhance my trading results.

Thank you all!

Potential buy for EURCHF. Do look out.

EURCHF H1


Wait patiently for a chart pattern breakout

This can be a 210 pips movement up before a potential short based on harmonics. (our previous signal for short for EURCHF)

Happy pipping at ForexGump!

Greetings guys!

Those bullish on the Aussie might be interested in this signal.

Did a queue to long AUDUSD.

AUDUSD H1



Good reward to risk ratio trade as usual
Yellow zone is a strong support zone
170 pips to a potential 300 pips move up for AUDUSD.

Lets hope the limit buy order gets hit!

Just an update, I’m still holding my EURCHF, GBPCHF and NZDJPY long.

Happy pipping at ForexGump!

Was a quiet week yet again at ForexGump.

Was it a unpredictable week? Violatile week? or simply a bad week?

To me, it was just something I have yet to seen in my short trading career.

Going through this market phase will only make me stronger the next time I see similar market condition.

The wise ones of wall street have seen it all through 30 yrs of their trading career, what am I?

Summary

4 trades in total

Trade Signal #64 GBPJPY -70 pips

Trade Signal #65 EURCHF Brokeven

Trade Signal #66 NZDJPY+40 pips

Trade Signal #67 AUDUSD – Untriggered


Trade Signal #64 GBPJPY -70 pips


Even if it didn't kill me the first time, I'll probably be washed out a second time

Follow strict cut loss rule. This will help you last alot longer in the market.

Trade Signal #65 EURCHF Brokeven

+100 pips then broke even At this moment, forexgump employs a 50 pips break even rule.

I’m highly tempted to add in another rule where we protect 50 pips whenever we hit a 100 pips.

Trade Signal #66 NZDJPY+40 pips


Closed position as the week comes to an end

This was a bull run which I am not very confident with.

Technical signals are not very clear.

I had a triangle pattern break out but price still hovers around strong resistance.

What is the best way to tackle positions like this?

To me, whenever I am confused, I cut my position no matter if it is a loss or profit.

Trade Signal #67 AUDUSD – Untriggered



Untriggered positions are automatically cancelled by end of week

Untriggered. A good thing afterall as price cleared below yellow zone support this week(21).

Final Comments

Every loss you make contributes to your future success.

If you had a great week, congratulation!

If you don’t, always start the new week like a fresh piece of paper and keep on believing!

You guys can do it!