Setup 20 - aftermath
EURJPY
Perfect setup for both classic AND cloud pattern.
Big picture changed - now strongly supporting bullish trades.
All conditions are met for both classic AND pattern entries.
Price has nicely broken away from the H4 centre line. We have TMA H1 and H4 in agreement, and we have the cloud pattern, which signal strong momentum.
Marked re-entries are also valid (babon signal + break of recent bars).
Perfect entries with almost zero drawdown.
I did not enter because I thought we were approaching the end of the European session, and I closed the terminal when I decided not to take setup 20 (above).
But my clock is 1 hour ahead of GMT... it was actually 3PM GMT, so we still had at least another hour.
Also, when there's a perfect setup like this, it's ok to open a trade even at 4:00pm because the momentum is still alive, with no signs of exhaustion in sight.
This move was worth about +50 points (whether as a single entry or multiple re-entries).
Out of all the 20 setups I have posted today, this is the best one.
No regrets though, as I'm learning by analysing these setups.
EURJPY
Perfect setup for both classic AND cloud pattern.
Big picture changed - now strongly supporting bullish trades.
All conditions are met for both classic AND pattern entries.
Price has nicely broken away from the H4 centre line. We have TMA H1 and H4 in agreement, and we have the cloud pattern, which signal strong momentum.
Marked re-entries are also valid (babon signal + break of recent bars).
Perfect entries with almost zero drawdown.
I did not enter because I thought we were approaching the end of the European session, and I closed the terminal when I decided not to take setup 20 (above).
But my clock is 1 hour ahead of GMT... it was actually 3PM GMT, so we still had at least another hour.
Also, when there's a perfect setup like this, it's ok to open a trade even at 4:00pm because the momentum is still alive, with no signs of exhaustion in sight.
This move was worth about +50 points (whether as a single entry or multiple re-entries).
Out of all the 20 setups I have posted today, this is the best one.
No regrets though, as I'm learning by analysing these setups.