Short GBP/USD: +35 pips
Accumulated: +450
I don't normally trade on a bank holiday, but the setup here looked good, so I could not resist and took the trade. After holidays with low volume such as this one, I change the settings on the indicators to adjust for the lack of volume the following 1 or 2 days. I entered on the close of the bar in the yellow ellipse (pseudo-upthrust), and closed the trade after the close of the bar in the red ellipse.
You can see here the amount of No Demand bars showing and there would have been plenty of No Supply bars as well, but when I see weakness in the background I set the indicator to show me signs of weakness or possible signs of reversal; and not any trigger bars for an opposing direction trade. The large amount of these types of bars is due to the fact that it was a holiday in the US. This can also be used to show how you need to first study the background and set the indicator to show you only the bars that are congruent with what the background shows. Also how it is important to analyze the background and not jump in just because you a see a No Demand bar, it is important to keep in mind that background HAS to be taken into consideration ALWAYS.
Accumulated: +450
I don't normally trade on a bank holiday, but the setup here looked good, so I could not resist and took the trade. After holidays with low volume such as this one, I change the settings on the indicators to adjust for the lack of volume the following 1 or 2 days. I entered on the close of the bar in the yellow ellipse (pseudo-upthrust), and closed the trade after the close of the bar in the red ellipse.
You can see here the amount of No Demand bars showing and there would have been plenty of No Supply bars as well, but when I see weakness in the background I set the indicator to show me signs of weakness or possible signs of reversal; and not any trigger bars for an opposing direction trade. The large amount of these types of bars is due to the fact that it was a holiday in the US. This can also be used to show how you need to first study the background and set the indicator to show you only the bars that are congruent with what the background shows. Also how it is important to analyze the background and not jump in just because you a see a No Demand bar, it is important to keep in mind that background HAS to be taken into consideration ALWAYS.