DislikedHi All, Just on the points that Bluesteele has stressed on...Timing, Timings, Timings, zones, area (for me in short its Time & RNs, thanks again to Bluesteele). Take a look at the GBP/JPY after the NY Equity open. I had mentioned in my previous post as to how price moves quite a bit after the NY Equity Open (specifically keep an eye for the next hr or 1.5hr after the NY Equity Open). If you don't see it quick then don't force a trade. It is there most of the time though. 1 or 2 of setup like this and its all set for the week. And this is just talking...Ignored
Escalator up-Elevator down~SB
Excellent summation Whitesta,,,, Your trade clearly exemplifies why one should not just sell a DT or TT without confirmation,,,especially before news.
If we had enetered short before that...THe news gave us 25 pips of heat and who knows how much that could of been.
That 10:00 Red news candle Big bullish one. "News is used to abuse"~GeorgeAUS
Couple of other things,,, The one hour chart shows the bigger pic nicely. and the other thing is notice the NY equity open (green line)
Price is failing to close and hold above it..10am candle BAM and now price toys with holding above the open... It all IMO plays into the
psychology of inducing longs...Our eyes are seeing HHs HLs just a nice little retail trap.
And that looks like where you entered is when price broke thru the 930am NY open....Which is right at that BOS on your chart !
Good eyes on the Market psychology/Mechanics !
Heres a few charts hopefully adds a different view and helps out...
Have a great weekend
Blue
The Best Loser Wins
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