GPYJPY Long potential.
Currently awaiting slow down in price via 1' time frame.
To be continued. I shall add information shortly.
Currently awaiting slow down in price via 1' time frame.
To be continued. I shall add information shortly.
Trade active
POI - Point of interests are sending trading view alerts crazy. Price actions seems to be hunting Weekly and Daily 50 exponential moving averages. I also provided a very similar analysis on EURJPY this morning. When the confluence is so favourable, I am happy to risk my capital in terms of the slow down process. With that said, it not still not FRGNT trading style to jump into the long position immediately. Note
Note
We had to move from the Point of interest. That is always the goal and mindset during the analysis phase - Is there enough pressure to push the position to the management phase of the trade. This is determined by the amount of confluences we can accumulate in an area. This setup was almost picture perfect. Can you see why is was not? To combat a very robotic trading style with the ability to deviate for what we call " common sense " variations, our risk was reduced even with a widened stop loss. Is that trading? It sure is, noticing where the market could go against you and protecting yourself from that whilst still wanting to be in a position is governed simply by the stop loss. Once the stop is placed, does the target make sense. If the answer is yes, as it was in this position, the trade was executed. GBPJPY LONG Q2 W14 Y25
FRGNT X
Trade closed: target reached
We had to move from the Point of interest. That is always the goal and mindset during the analysis phase - Is there enough pressure to push the position to the management phase of the trade. This is determined by the amount of confluences we can accumulate in an area. This setup was almost picture perfect. Can you see why is was not? To combat a very robotic trading style with the ability to deviate for what we call " common sense " variations, our risk was reduced even with a widened stop loss. Is that trading? It sure is, noticing where the market could go against you and protecting yourself from that whilst still wanting to be in a position is governed simply by the stop loss. Once the stop is placed, does the target make sense. If the answer is yes, as it was in this position, the trade was executed. GBPJPY LONG Q2 W14 Y25
FRGNT X
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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.