A very insightful breakdown of your trading approach. More of this video is expected and highly appreciated. Please keep up with this good work. Thank you!
Friday was a wild day for all /JPY pairs. I typically trade the USD/JPY, but it didn't matter as they all ripped hard to the upside. So much so that I went to look at the BOJ to see if they made an announcement. They did and it was a rate INCREASE. After that big move up, the market ripped BACK down to the downside, in favor of the Yen. I was traveling so I was only watching, but glad you got into that move on Friday, it was a great trade👍
Hey, thank you for the kind words! I appreciate you. You’re right; these MRN releases can be very volatile and catch a lot of traders off guard! Definitely something I’ve learned to keep track of. When I first started I thought news releases were kind of rare but they aren’t rare at all. Plenty of weeks we have three or four big news releases and it becomes “a part of life”. The big guys make their money with those moves! Generally, speaking I stay out of the market just before the news release unless I was in a higher time frame trade set up and using the news as a trade catalyst. Otherwise, I am never in the market just before a release but I may get into the market even one minute after! Sometimes I let the dust settle before getting in, because, as you said, news loves to take out both sides of the range. Thanks again and safe travels!!
I identify them myself. You should be looking for equal highs that stand out to you. The ones that stand out to me are really clean. It’s not a bunch of candles and consolidation throwing wicks everywhere. It’s usually two candles that make very clean equal highs or equal lows. And I’m also not only looking for equal lows and equal high. I’m also keeping track of past lows and past highs in general. The point and the thought process being, where are the orders sitting that need to be absorbed at some point and which one is the most convenient where we are most likely to move towards? Hope that helps
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A very insightful breakdown of your trading approach. More of this video is expected and highly appreciated. Please keep up with this good work.
Thank you!
Thanks, I appreciate you!
Wow I really love this content, looking forward to learning more.
Thank you universe 🙏
Friday was a wild day for all /JPY pairs. I typically trade the USD/JPY, but it didn't matter as they all ripped hard to the upside.
So much so that I went to look at the BOJ to see if they made an announcement. They did and it was a rate INCREASE. After that big move up, the market ripped BACK down to the downside, in favor of the Yen. I was traveling so I was only watching, but glad you got into that move on Friday, it was a great trade👍
Hey, thank you for the kind words! I appreciate you.
You’re right; these MRN releases can be very volatile and catch a lot of traders off guard! Definitely something I’ve learned to keep track of.
When I first started I thought news releases were kind of rare but they aren’t rare at all. Plenty of weeks we have three or four big news releases and it becomes “a part of life”. The big guys make their money with those moves!
Generally, speaking I stay out of the market just before the news release unless I was in a higher time frame trade set up and using the news as a trade catalyst. Otherwise, I am never in the market just before a release but I may get into the market even one minute after! Sometimes I let the dust settle before getting in, because, as you said, news loves to take out both sides of the range.
Thanks again and safe travels!!
Do you identify the equal highs yourself or you have an indicator ?
I identify them myself. You should be looking for equal highs that stand out to you. The ones that stand out to me are really clean. It’s not a bunch of candles and consolidation throwing wicks everywhere. It’s usually two candles that make very clean equal highs or equal lows. And I’m also not only looking for equal lows and equal high. I’m also keeping track of past lows and past highs in general. The point and the thought process being, where are the orders sitting that need to be absorbed at some point and which one is the most convenient where we are most likely to move towards?
Hope that helps
I’ll make another video about this concept specifically soon
@@freeyourmind4349 I would love that , having trouble identifying the direction on the daily
Do you trade gold?
I do trade XAUUSD but I’ve been staying out while we poke ATH and seeking opportunities elsewhere for the time being
I trade a few currency pairs(JPY crosses, EURUSD,GBPUSD, USDMXN), XAU, US30(DJ30), USOil, BTC.