Those risk takers, I hope you watched your risk and trading plan. Hopefully as the smart trader you are, your stop loss should be in profit. It's not your father's house and you are not the market. We'll see the screen tomorrow.
Those that are look for a bit of a high risk trade where you can be in and out (with close monitoring). Here is a possible trade. Buy Stop placed where breakout can happen and will retest to confirm the forecast. Those that are more patient traders will wait for the market to move and develop price further. Either towards the blue rectangle or to a lower price....
Placed this as a possibility on Sunday after review. We were right about the forecast, just that we were too early as the market opened with an obvious bang. But because it was Sunday luckily nothing happened. This just confirmed where we saw the market going.
This is my long term view for GJ and where the future of price will go. For the short term we gonna buy and then sell for the long term, and we will wait for what we are looking out for.
I remember posting these and saying I do not advise these. On both US30 and Nas100, I knew the risk and said stay away for a reason.
This is very risky and not advisable. Screens should be off and we should be in bed. With the right RR, the trading plan and the amount capital required to know that if it turns against you, you will still be safe.
It bounced right at our TP, but also because we are smart traders not hard traders we had already moved our SL into profits. With that being said let's switch off our screens and we'll be back tomorrow.
Good thing we are traders, SL was moved into profit a long time ago. So we did not return our sweat and hardwork. WATCH&WAIT
Also tagged in, now we let it run. 1. Impulsive break of channel downwards 2. Retest (rejection) under channel 3. Close under channel
Break and retest has happened. 1. Impulsive break downwards 2. retest under channel (rejection) 3. Close under channel
Haven't been trading N1 in a while just been monitoring and watching. As a trader we always sharpen our skills. Here I'm seeing a possible short but in order to confirm I would need to see a break of structure impulsively and a close below the channel, a retest (rejection under channel) in order to take the trade.
After watching and waiting. We entered and it played out. Now switch off your screen and go jog or something before you enter trades that'll give the market the money back
I entered quite a few trades after the break, I was waiting for the retest. Whole time I thought I had sells placed but I had placed buys due to the buy bias and not a full forecast. Manually closed them and doing a better job now
I'm still seeing the sell over the long time but no confluences have really showed me the confirmation. Till then we WATCH&WAIT
The development of UJ, is making our buy bias look more and more impossible. Struggling to break the level of importance (blue rectangle). As a Forex trader the advantage is that you can easily change your bias and set out for better opportunities. Unlike stock market traders, it's not as easy for them to quickly change their biases once they've entered.
This week looking at GJ, we are anticipating a lower price move, bounce on the blue rectangle and we love to see a push up (following the UJ) but what we are seeing is a further move downwards. So we WATCH&WAIT Rules for the week: Nothing less than 3 confluences RR that works 1:3 No impulsive trades
This week looking at UJ, we are anticipating a lower price move, bounce (forming a double bottom), then finally the push all the way to the upside. Rules for the week: Nothing less than 3 confluences RR that works 1:3 No impulsive trades
This is what happened. The close of the market after our testing.