GBPJPY LONG POTENTIAL UPDATED Q1 W14 Y25
Slow down in 1' price action identified.
Slow down in 1' price action identified.
Trade active
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 Y25FRGNT X
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Related publications
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.