Sorry to say dude but I donât love it, there is very strong downward momentum prior to the pin, (although it does ease up a few bars before it to be fair), but more importantly I would prefer a much more bullish close to the pin and for it to be a bit bigger. The downward momentum and large bars arenât a deal breake,r but generally we want to see a big, obvious and perfectly formed pin to feel comfortable that it will reverse that momentum.
It is off a great level and with trend which are both positives, but for me it is a B+ trade
Fair play to you for posting and pushing for feedback even once it has gone in the right direction!
Something that helps me is to think if I was laying say $1000 of my own money on a signal, would I trade it?
Oh, I didnât know we can play just based on just RN and VBRN. I thought it had to show s/r also.
Like the eur/jpy, was trading up to the 119, however on daily doesnât show it as strong resistance, and I would think 120 is the better target. On 4h the 119 seems like nice resistance though. At my current time it does seem like its rejecting it.
That level is a support level. Not major but enough for such a stong trend. Notice the way price rejects and moves lower before gaining momentum and moving through. With such a strong trend would not then surpise for price to move back down and reject again only this time acting as support.
On your EURGBP chart. mark 0.8400 on D1 and zoom outâŚ
This is just one of those (neat) cases where S/R and RN together form a key zone.
My hope is that price will find resistance here (0.8400) and retrace to earlier marked support (same as Johnathonâs) and produce long PA to enable us get into the uptrend.
Yes, but it does get quieter. Only difference is less trades due to less volatility. just need more discipline.
In saying that I do plan this year on taking a break/holiday for anywhere from 3-6 weeks through the mid July - mid Aug period. Best time of year to do it. In Australia our summer is now and the major breaks for work/school year is Dec - Jan where as the UK (and guessing US as well??) have their major breaks during the mid year through their summer.
The market is a lot more lively through Dec - Jan which would be my normal holiday and so I will switch and take July instead of Dec.