That big red candle happened and tapped me right out.
I agree. Thanks for telling me to move my SL. Wouldâve lost it all plus more if I didnât.
Oops sorry. I was also looking at my chart. I meant âwhat happened for that candle to drop that wayâ. Tapped me out too.
gotta think like the banks, most traders probably thought it would continue rising, but then it melted instead. Gotta get into that head space, especially with the major pairs. That vid that @Jerome32 posted talks a lot about that
And how do the banks think, iâm curious what youâre getting at
look up âJeromeâs Journalâ in the search and scroll all the way down until you see the vid (Best Forex Trading Strategies,),it explains everything in the vid
Lol like I said before got 2 profitable trades previously off of the pattern & was just trying to get in one more time. (I didnât risk much so itâs ok & whatever happened stopped out a lot of positions Iâm sure)
Because that move was driven by the USD - you can see the opposite move in GBP/USD.
Here is the same chart also on 15min TF (GBP/USD)
Notice how your pair above is USD/JPY = USD/XXX
My pair below is GBP/USD = XXX/USD
So they are inversely correlated.
Iâd say the move was driven by the US, specifically this?
Itâs all very well speculating on patterns, but you have to keep up with the news releases too, especially high risk âhearsayâ rubbish - such as a speech.
Yeah I was aware of the speech again not too much was risked & I still end up in the green towards the end of today so thatâs all I can truly ask for. Itâs just another learning lesson of the trading game if anything.
Just look at that candle a lot of us âsmallâ traders probably got wiped out ridiculously while the cool, calm, and collected where grabbing the chips real quick.
Yes, even the so called signal providers here have been saying to look for downward pressure on GBP/USD and EUR/USD - funny really and even more of a reason to just take your own stance.
Exactly I rather lose my own money off my own analysis vs someones opinion.
Funny thing is the trade I was iffy about EUR/JPY going bullish end up profiting crazy had I took it.
The one I actually studied up on went against. Again itâs the market and you just have to be mindful of constant swings that it throws.
they lie big time on the news too, like on cnbc or bloomberg lol canât be thinking like the majority
Canât seem to find a good trade this week. Iâll try my best to find a trade without forcing it.
Entered a short on USDJPY at 112.82.