This was a breakout trade in the Asian session, price close outside of the range that has been ongoing from London and the previous Ny session. Price closed out for a breakout trade. I took entry on close with the SL below the candle and looked left for a target in the old zones. This is for education purposes only, not financial advice.
Today's trade was a GJ short, in the Asian session at approx 00:30. The Price broke out of the range I set up and took entry on Close with SL above the breakout candle. However, before entering trade, I knew it was more of a risky trade with a lower probability of winning. When you look left for the target, there are no clear targets to aim for. The first target...
This is a technical analysis on GJ in Asian session, this analysis in the simplest terms explains why not to take a trade for GJ. In theory, there was no setup for a break-out trade. I personally could not see R/S to trade off and make an entry for breakout trade, as I belive there was no range/consolidation happening left to right. So to sum it up, there was no...
The setup for this trade is strictly technical, based on reading the chart on LTF (15min & 30min). The plan of attack behind this trade is based on breakouts, from resistance and support which I have noted on the chart by analyzing areas of consolidation and rejection levels. This is for education purposes only. Not attended for advice on what trade to take.
