GJNOOOOO It's not Support and Resistance🙅🏾♂️🙅🏾♂️🙅🏾♂️🙅🏾♂️⛔⛔🚫🚫🚫. I am seeing a possible inverse H&S, so I'm waiting for the formation of the other shoulder or a break of structure. With this info that the market has currently given, it's a short risky trade I see. So it's not what I want to babysit, I'd rather wait for the larger possibility. (inverse H&S).
D-GJ
GJ (Please Read My Entire Comment)Watch this explode next week. This consolidation if you have back tested GJ, then you should know what to look for (adjusting accordingly to your plan, not to what you saw on IG). Next week either market open or mid week we are going to have an explosion. Using my experience from back testing GJ, it will usually hit both sides (It triggers both sell stops and buy stops in order to fulfil the supply of the side it is going to),
IF YOU HAVE NOT YET TRIED IT, USE THE FREE TRIAL OF TRADING VIEW. YOU WILL NOT REGRET IT
GBPJPY$ :) The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading… I know this will sound like a cliché, but the single most important reason that people lose money in the financial markets is that they don’t cut their losses short.
:)
GJIt's a late entry but it still follows the rules. Impulsive break, retest, candle confirmation and then enter. We have a considerably large SL due to our past experiences with GJ and where the market is. For now just watch, if you don't understand why I took this trade rather stay away especially if it does not follow your risk management plan.