A little gutted I missed a chance to place a trade on NZDJPY.....
I set an alert on the Daily to tell me when price was approaching the D1 SZ, so that I could check the approach to the 4h fresh and original zone. The alert, D1 and 4h zone were hit at 1:00 am my time when I was asleep. It is a great zone with a really great approach to it, nothing on the 4h to stop price dropping.
All I can do is see what price does and see whether my analysis flagged a high probability trade that I unfortunately missed.
See charts below:
D1:
Price broke momentum TL creating a nice SZ to short at, there is a lot of compression on this chart for price to keep on dropping.
4h:
There is/was a great fresh and original SZ at the distal of the D1 SZ to set a trade at.
The only reason I didnt set the trade was because I want to see how price approached the 4h SZ and assess what profit margin there would be.
Does anyone have any advice on 'set and forget' zones like this....do you disregard profit margin on th 4h with a great fresh and original zone like this or still asses how price approaches the zone and this decide whether to place a trade or wait for confirmation?
I set an alert on the Daily to tell me when price was approaching the D1 SZ, so that I could check the approach to the 4h fresh and original zone. The alert, D1 and 4h zone were hit at 1:00 am my time when I was asleep. It is a great zone with a really great approach to it, nothing on the 4h to stop price dropping.
All I can do is see what price does and see whether my analysis flagged a high probability trade that I unfortunately missed.
See charts below:
D1:
Price broke momentum TL creating a nice SZ to short at, there is a lot of compression on this chart for price to keep on dropping.
4h:
There is/was a great fresh and original SZ at the distal of the D1 SZ to set a trade at.
The only reason I didnt set the trade was because I want to see how price approached the 4h SZ and assess what profit margin there would be.
Does anyone have any advice on 'set and forget' zones like this....do you disregard profit margin on th 4h with a great fresh and original zone like this or still asses how price approaches the zone and this decide whether to place a trade or wait for confirmation?