one2envy78
Education

Education and recap

FX:GBPJPY   British Pound / Japanese Yen
MARKET MAKER METHOD: Trade recap 10/24/18 - Took a LOSS, stopped out on BUY trade, day 3 downtrend A2 formation took place which is confirmed through 3 levels of intraday drop . Move was big as well which is normal behavior on day 3 of a cycle.
Cycles are based on 2 to 3 days. Uptrend cycle forms as W V V and Downtrend cycle forms as M A A. Pattern formations may not be perfectly visible, but rather a variation thereof. They generally can take place straight out of the Asian range, at London or U.S. open.
The strongest pushes/moves(150+ PIPs) are made on Day 1 of cycles ("W" and "M") and Day 3("V2" and "A2").

I am very confident we'll see the new uptrend cycle begin Thursday or Friday so look out for a "W" formation. I will be targeting 144.10 as my prime BUY entry for 4 main reasons:
1. A2 end of downtrend cycle confirmed
2. Daily FIB level of 144.10 lines up with next Asian range setup
3. Market Maker HAS TO GET HIS MONEY BACK! Sellers will be taken out, Market Maker bags huge profits to clear the boards as week comes to an end.
4. High Impact news coming up Thursday and Friday which Market Maker uses to make big moves as needed to complete the current cycle and or formation of the day. News is all a bunch of bull$h*t and just used by the Market Maker to complete the pattern. This is why the moves hardly ever match the news results.

P.S.
Take what you like from my review, use proper risk management, do your own analysis, do not rely solely on indicators/support/resistance/trade signals. I stick to the Market Maker Method because it's THE ONLY STRATEGY that's made me insane profits and makes the most sense to me.

Comments

When is the news on Thursday & friday? Thx
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one2envy78 dsalehi
@dsalehi, use myfxbook.com to view daily news... super helpful site I use...
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