Analysis:
Bearish Confluences
Bullish Confluences
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Bearish Confluences
- Shorter term downwards trend
- Retesting an area of significance
- 31.8% fib retracement level touch
- Broadening descending channel patter formed
- Downwards trendline touch
- 4K long position increase for the USD
- Recent news for the USD has been bullish
Bullish Confluences
- Longer term upwards trend
- 4K short position increase for the USD
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade active:
Our entry requirements have been met and our order has been filled. We are short looking to see price drop to the downside and with NFP coming out today this could be possible. Let's see what happens!
Trade closed: target reached:
Trade Closed
(+2.27R) Made
After Trade Comments:
And the profits just keep on rolling in! This was a trade that we called out last week which dropped to our take profit exactly like we expected. Recently we've seen USD strength step into the markets and in turn drive the US30 to the downside which favoured our trade massively. This trade was a simple textbook break and retest that we saw setting up, showing that simplicity is key. You don't need to over complicate trading. If you factor in too many things then you will never have a clear directional bias and you'll never take a trade. What you need is a simple strategy that is easy to follow and stick to. Trading is hard enough as it is to be profitable so why make it harder by adding in loads of confluences that aren't needed. There will always be confluences to go long when you're going short and there will always be confluences to go short when you're going long but that's trading. You need to pick a few confluences that fit your style and stick to them. If you don't usually look at the MACD but you've seen it and it says to go long, don't let that change your bias if your other confluences that you usually pay attention to say to go short because the second you do that the second you no longer have an edge in the markets. It all comes down to finding a SIMPLE strategy that suits you. There isn't a holy greyly strategy, but there is a strategy that will suit you. No matter how many confluences you take into account, the market will move against you at some point. It's better just to have a simple strategy and follow it, letting that edge playout over time and accept that losing is part of the game, rather then taking into account 100 confluences that over complicate everything trying to avoid losing because you simply can't avoid losses if you're a trader. Put your chances in your favour and have a simple, easy to follow strategy because this will give you a better chance at being profitable in the long run.
Stay Safe - The JPI Team
(+2.27R) Made
After Trade Comments:
And the profits just keep on rolling in! This was a trade that we called out last week which dropped to our take profit exactly like we expected. Recently we've seen USD strength step into the markets and in turn drive the US30 to the downside which favoured our trade massively. This trade was a simple textbook break and retest that we saw setting up, showing that simplicity is key. You don't need to over complicate trading. If you factor in too many things then you will never have a clear directional bias and you'll never take a trade. What you need is a simple strategy that is easy to follow and stick to. Trading is hard enough as it is to be profitable so why make it harder by adding in loads of confluences that aren't needed. There will always be confluences to go long when you're going short and there will always be confluences to go short when you're going long but that's trading. You need to pick a few confluences that fit your style and stick to them. If you don't usually look at the MACD but you've seen it and it says to go long, don't let that change your bias if your other confluences that you usually pay attention to say to go short because the second you do that the second you no longer have an edge in the markets. It all comes down to finding a SIMPLE strategy that suits you. There isn't a holy greyly strategy, but there is a strategy that will suit you. No matter how many confluences you take into account, the market will move against you at some point. It's better just to have a simple strategy and follow it, letting that edge playout over time and accept that losing is part of the game, rather then taking into account 100 confluences that over complicate everything trying to avoid losing because you simply can't avoid losses if you're a trader. Put your chances in your favour and have a simple, easy to follow strategy because this will give you a better chance at being profitable in the long run.
Stay Safe - The JPI Team