Hey OliveBranch,
When considering this trade, one thing that was to be a hindrance was the H2 PSAR. Therefore for me to counter-trade it, I needed:
a) an open below EMA
b) MACD to be on the bottom
For the confirmation of the end of the uptrend, that's where my trade plan kicked in. I needed confluence on H2 and H4. DB with hidden dev attached top on that H4 chart, all I needed was the white/purple cross to be in confluence with the smooth/ white/ purple crossing on H2, which happened. And as always what you see as truth in the moment with the paradox is when I pulled the trigger. Daily was out of balance with purple and there was space for 200+ pips.
As to waiting for later, I would have missed my entry. Also, Gbpjpy is volatile compared to EJ and a reason why I personally avoid the hr 1 chart, hence the pair pushing up and making a higher high after entry, but the visuals on the H2 and H4 had already been set so I was not that concerned.
That was basically my view on that trade, Olive.
When considering this trade, one thing that was to be a hindrance was the H2 PSAR. Therefore for me to counter-trade it, I needed:
a) an open below EMA
b) MACD to be on the bottom
For the confirmation of the end of the uptrend, that's where my trade plan kicked in. I needed confluence on H2 and H4. DB with hidden dev attached top on that H4 chart, all I needed was the white/purple cross to be in confluence with the smooth/ white/ purple crossing on H2, which happened. And as always what you see as truth in the moment with the paradox is when I pulled the trigger. Daily was out of balance with purple and there was space for 200+ pips.
As to waiting for later, I would have missed my entry. Also, Gbpjpy is volatile compared to EJ and a reason why I personally avoid the hr 1 chart, hence the pair pushing up and making a higher high after entry, but the visuals on the H2 and H4 had already been set so I was not that concerned.
That was basically my view on that trade, Olive.