When "Day Trading" GBPJPY it is important to trade in the direction of the trend(swing trend) for the day.
After the swing trend for the day has been identified using the trend-line, its time to pay attention to the order-flow for entry setups in the direction of the trend or sometimes against the trend (yes these happens sometimes)
Two very strong entry setups are:
1) Clean-Flush Melting Order-flow
2) Turtle Soup
In this mini article I will share screenshots of my trades from Monday to Friday using this methodology. I had one loss on Monday, three wins during the week.
My last trade was on Friday, and I am still holding the position, expecting price to head into the 185.2 level by Monday/Tuesday
- Broad View of All trades taken
After the swing trend for the day has been identified using the trend-line, its time to pay attention to the order-flow for entry setups in the direction of the trend or sometimes against the trend (yes these happens sometimes)
Two very strong entry setups are:
1) Clean-Flush Melting Order-flow
2) Turtle Soup
In this mini article I will share screenshots of my trades from Monday to Friday using this methodology. I had one loss on Monday, three wins during the week.
My last trade was on Friday, and I am still holding the position, expecting price to head into the 185.2 level by Monday/Tuesday
Note
Apparently BOJ stepped in over the weekend and that led to a massive short. However this short led to the beginning of a Falling-W swing pattern. On Tuesday, price printed a bullish turtle soup setup to signal its readiness to complete the Falling-W swing pattern
Note
A second turtle soup entry for GBPJPYNote
3rd entry & zoomed-in view. Should be the last setup before this week's price objective is metNote
SL hit on 3rd entry. However a new turtle soup setup has been formed, so we can take a 4th entry with a buy-stop above the high of the red hammer candleNote
Remember trend is still very bullishNote
Okay guys. It seems we were wrong. What I have learnt from this week's setup is price may not alway complete the objective of a falling-W pattern if there is a break of the swing trendline. I ignored this break with the belief that completion of the pattern was compulsoryNote
This was our missed setupNote
TargetNote
If you liked this content please support this channel by liking the post and following me. I will be dropping my weekly trade flow for GBPJPY. Interested in a private mentorship? Send me an email on joshuaetopidiok@gmail.com
That will be all for this week though! Enjoy your weekends!!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.