GBPJPY classic entry. Have been watching this pairs for quite some time. The price has gone below dragon, and touch the level previously "whip whack" by MM.
My target is 170 level. SL wide enough for price to breath.
Just a little reminder (post #1 basic rules):
Serious Recomendations
1. Do not over trade big-time, or trade during Asian Session. Most of the best setups with proper follow-thru occur after the London session opens. You shouldn't trade more than 5 trades a week. Look for quality setups, not quantity.
2. Dot not add to a losing position. With the advent of Scout trades and PVSRA, there is the temptation to do so. No matter the results of a good PVSRA, it is recommended that you not do this.
3. Your SL must wide enough to for the price to breathe. If you put it too tight, the chance of getting your SL hit is very high even though the price eventually goes in the direction you wanted. For example, I recommend you use a SL of up to 100 pips when trading EURUSD.
My target is 170 level. SL wide enough for price to breath.
Just a little reminder (post #1 basic rules):
Serious Recomendations
1. Do not over trade big-time, or trade during Asian Session. Most of the best setups with proper follow-thru occur after the London session opens. You shouldn't trade more than 5 trades a week. Look for quality setups, not quantity.
2. Dot not add to a losing position. With the advent of Scout trades and PVSRA, there is the temptation to do so. No matter the results of a good PVSRA, it is recommended that you not do this.
3. Your SL must wide enough to for the price to breathe. If you put it too tight, the chance of getting your SL hit is very high even though the price eventually goes in the direction you wanted. For example, I recommend you use a SL of up to 100 pips when trading EURUSD.
Don't blame the tools. Blame the carpenter.