Bella's GBPUSD Trading Journal

Bella.a

Trader
Oct 10, 2021
157
0
22
Hi Everyone , I am a Part Time Trader , have a great interest in Forex-Trading , I have a background in Economics (B.S). I fairly well understand the fundamentals of the economy and use technical analysis to take trading decisions. The Type of Technical Analysis I use is called Price Action such as, Time<>Price,Support and Resistance , Pivots (Floor Traders ),S/R Zones,Fibonacci Retracements/Expansions. I take trend direction from 4hrs and trade on 15M Time frame. The Forex Pair I use is GBP/USD it has good daily trading range so this pair's personality is something i like trading. I am just starting this trading journal to keep a log of my trading activities as i further develop my skills with Price Action .
 

Bella.a

Trader
Oct 10, 2021
157
0
22
Current Situation:

I took a trade on GBP/USD on 21.10.2021 , Sell GBPUSD at 1,38197 Stop-loss at 1,38484 , The Take profit is currently at 1,37013 . Currently +57 Pips in profit and looking for a re-test of support at 1,36763 to take some new trading decision . The 4hr Chart below shows the fib retracement from 1,38346 High placed on 20.10.2021 starting from 29.09.2021 low of 1,34117 . The 1,36763 sits on 0,382 retracement and possible support area. Monday i am waiting for 1,37013 T/P and then to re-analyze market
 

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Bella.a

Trader
Oct 10, 2021
157
0
22
Current rate: 1.37728

The Day has opened with cable breaking above the daily pivot point at 1.37702 . I expect Mid-Resistance ( 1.37874 to provide barrier for 1.38151/2 Friday's High ). Holding on to the short from 1.38197 Targets still 1.37013 . Only above 1.38151 will give retest of Thursdays high but 1.38484 Should hold for said retest of support 1.36759/1.36763
 

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Bella.a

Trader
Oct 10, 2021
157
0
22
Current : 1.37827

Recent rally to 1.37829 at Mid Resistance 1 has provided me an opportunity to add to my previous short trade .
Sold GBPUSD at 1.37829
S/L : 1.38158 [ expected friday high to hold ]
Objective : 1.37093
 

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Bella.a

Trader
Oct 10, 2021
157
0
22
Current Rate : 1.37458

cable is currently trading near Asian session lows . My Above posted position is at +36 Pips. Plan is to hold this trade only for Intraday basis . I will re-visit my charts with in 3 hours .
 

Bella.a

Trader
Oct 10, 2021
157
0
22
Current Rate : 1.37737

I just check market is currently still in the same ranges. As this was an intraday-trade at this point i have set the T/P at 1.37379 and Stop-loss at b.e +2 so earning +2 Pips in profit .
 

Bella.a

Trader
Oct 10, 2021
157
0
22
Current Rate 1.37620.

I have closed the first open trades for +58 Pips . currently have no running trades.
 

Bella.a

Trader
Oct 10, 2021
157
0
22
Current Rate : 1.37689

I feel i can take a fresh short at this range as it has been range bound and i still have a trend direction short .

Sold GBPUSD at 1.37679
Stoploss : 1.37931
Objective 1.37063
 

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Bella.a

Trader
Oct 10, 2021
157
0
22
Current Rate : 1.37660,

Cable's upmove to retest yesterday's high ( my SL just above that region as stated above 1.37931) i don't expect from here this resistance will be revisited hence intraday high should already been placed. I am current +5 Pips and expect yesterday's low to break for further down move today.
 

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Bella.a

Trader
Oct 10, 2021
157
0
22
Current Rate : 1.38110 ,

Currently Up +16 Pips as i write this , i have a tight S/L as posted above due to upcoming resistance at 1.38460 . This is going to be last try to short GBP/USD at these highs last time i shorted was on 21/10/2021 made +58 Pips . Currently i am looking forward that this re-test will hold and i can get some downward movement again .
 

Bella.a

Trader
Oct 10, 2021
157
0
22
Current Rate : 1.37628,

Currently Up +64 Pips as i write this , It proved to be a good resistance after all ( 1.38460) . The bears have the control again of the market and currently suggests we shall see a re-test of Monday's low at 1.37340.
 

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Bella.a

Trader
Oct 10, 2021
157
0
22
Current : 1.37653

I am +60 Pips as i write this . On the close of the previous Daily Bar. Bears have set the stage with the sell off from 1.38297 . At the moment i am eyeing today's pivot 1.37828 and 1.37923 which creates type of resistance zone that should hold for today. Still looking for a decline to 1.37340 or lower targets.
 

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Bella.a

Trader
Oct 10, 2021
157
0
22
Current Rate :1.37305

This time around as per Forecast the cable declined below mondays low 1.37340 into 1.37273 . I have netted on this trade +97 Pips . I am happy :) . Currently i have no open positions .. Standing Aside.
 

Bella.a

Trader
Oct 10, 2021
157
0
22
Current Rate : 1.37379

Looking at my first post where i was expecting a retracement to 0.382% fib level support. I believe this leg has ended at 1.37095. Strong support near 1.36941 which should hold going forward. My Bias is changed to Bullish Cable and i am waiting for intraday price action activity to find opportunity to participate in expected uptrend that should re-tackle 1.38460.
 

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Bella.a

Trader
Oct 10, 2021
157
0
22
Current Rate : 1.37404

current momentum suggest i can long GBPUSD at this rate , hence current plan would be

Bought Cable at 1.37433
Stop-Loss at 1.37078
Objective : Open ( my current view is to takeout 1.38460 which i was defending in my previous posts ). total profit made +58+97 Pips

I expect yesterday's low at 1.37094 should hold for bulls as it should have found decent support near 38.2% fib level, only below 1.36941 will abort this bullish view.
 

Attachments

Bella.a

Trader
Oct 10, 2021
157
0
22
Current Rate : 1.37335

Added another Buy to my previous Long Position

Bought Cable at 1.37335
Stop-Loss at 1.36881
Objective at Open.

Now i have two positions on Cable Long at 1.37433 and long at 1.37335 . I have no specific targets on these trades yet. As stated only below 1.36941 will abort this bullish view.