sebking1986
Private
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Did you widen your stop on this?
Gj Reversal Zones
- Thread starter bigbax699
- Start date
bigbax699
Corporal
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No didnt enter until thursdays candle close mate. Got to wait for resistance to form before entering
Patience is so key in this game. Its all about keeping that powder dry until the right conditions come along
sebking1986
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Ah fair enough mate. Looks like it's well on the way now and the ominous GBP news this morning really pushing it along. Looking quite bleak for the UK economy.
JimmyRozza
Master Sergeant
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That's where I went wrong. Jumped the gun and entered early only for stop to be collected, then bam, down she went. One for the trading diary to learn from.
bigbax699
Corporal
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Good morning all. Happy to end the week on another TP hit!
GBPJPY reached our TP zone yesterday for a total of 780 pips for a 1:9 R:R. We managed to achieve this in 5 trading days, so it turned out to be a great trade for us. As previously mentioned we are still in an overall bullish trend , and as you can see price rejected from the multiple confluences of the demand zone and the moving average. Looks like it found a lot of support and we could either see a retracement here for more down movement or bullish continuation. Either way we are out with our profits and looking to the next trade. I will watch price over the next couple of days and come back next week with the next possible setup, enjoy your weekend all. GLIYF
GBPJPY reached our TP zone yesterday for a total of 780 pips for a 1:9 R:R. We managed to achieve this in 5 trading days, so it turned out to be a great trade for us. As previously mentioned we are still in an overall bullish trend , and as you can see price rejected from the multiple confluences of the demand zone and the moving average. Looks like it found a lot of support and we could either see a retracement here for more down movement or bullish continuation. Either way we are out with our profits and looking to the next trade. I will watch price over the next couple of days and come back next week with the next possible setup, enjoy your weekend all. GLIYF
sebking1986
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This TP shows the importance of placing them at key areas or points in structure. Often a TP might only just briefly hit and then fall away again as it did here and if you are not firm on where that is pre-trade then you could end up watching price take you back to zero or worse SL.
JimmyRozza
Master Sergeant
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Wow, you caught the top and bottom perfectly on this one!
Looks like price is already pushing up towards the top. Bottom of rejection wick would have been a great entry
Looks like price is already pushing up towards the top. Bottom of rejection wick would have been a great entry
bigbax699
Corporal
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Good morning all, after our last trade on GJ hit TP we are onto the next setup. As price hit our TP zone down at demand we cans see that we got big rejection from that particular zone. We have since seen price re visit the supply zone from when we last sold. But it looks like the bull may continue and I think the next push may break the supply zone . So I am looking at a buy from this little demand just under where price is now. Hopefully price will visit there over the next few days and gather support to give us our entry. One to keep your eye on and be ready. GLIYF
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