CAD/JPY Long Trade Closed for +38.8 pips
As the price started to move in the direction of my trade position, on TF M15 a bearish PA appeared after the price was pushed quite strongly when entering the London session. This was important because the PA was supported by relatively high activity above the half lvl. At that time I had a new hypothesis: "maybe the MMs will stop the price increase by filling the SM short queue, or maybe they will deceive the rest of the herd by dropping the price to a lower level, and of course that should be below the current half lvl - or maybe even deeper." This clue was then further developed by me.
If this was the case, then I had to find supporting evidence to back up my hypothesis.
I further elaborated on this clue by looking for some supporting evidence. And when I observed the H1 TF, I found that the latter was an area of historical consolidation that should indeed be looked into. There were some important price consolidations to mark in this area, and it could be that my hypothesis was correct.
But it could also be wrong.
In such a situation, I would not stake the fate of my business on hopes and prayers. A series of clues and facts have been gathered, hypotheses have been made and reinforced. And it's based on the facts that I see in the chart with PVSRA. I would rather exit the market happily. Even if the price still continues to rise towards the main target, it doesn't matter, and I'm still happy.
Happy Trade
and be profitable with PVSRA
Sincerly,
MJ-
As the price started to move in the direction of my trade position, on TF M15 a bearish PA appeared after the price was pushed quite strongly when entering the London session. This was important because the PA was supported by relatively high activity above the half lvl. At that time I had a new hypothesis: "maybe the MMs will stop the price increase by filling the SM short queue, or maybe they will deceive the rest of the herd by dropping the price to a lower level, and of course that should be below the current half lvl - or maybe even deeper." This clue was then further developed by me.
If this was the case, then I had to find supporting evidence to back up my hypothesis.
I further elaborated on this clue by looking for some supporting evidence. And when I observed the H1 TF, I found that the latter was an area of historical consolidation that should indeed be looked into. There were some important price consolidations to mark in this area, and it could be that my hypothesis was correct.
But it could also be wrong.
In such a situation, I would not stake the fate of my business on hopes and prayers. A series of clues and facts have been gathered, hypotheses have been made and reinforced. And it's based on the facts that I see in the chart with PVSRA. I would rather exit the market happily. Even if the price still continues to rise towards the main target, it doesn't matter, and I'm still happy.
Happy Trade
and be profitable with PVSRA
Sincerly,
MJ-
"Bulls make money, Bears make money, but hogs get slaughtered"
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