Dislikedcouple of things on this post
1) you were right in the weakness off the double top . I have noted it on this chart . aj caught me in a simialr set up last week , and jpy pairs are doing this alot, fake double tops that drop 50 pip only to reverse to upside 200 plus
2) your entry was late... real entry 107.30 area... would have given you enough room to get stop be.
3) as soon as you saw move stalling and wicks at 106.80 that was enough to close trade ( would have been for me ) as it is sign buyers
4) after down move 107 to 106.8 and doji next...Ignored
Hi Malcolm,
Wow, you are extremely fast in responding.
Much appreciated.
2) You mean I should enter Short at "No Demand" that is before London.
Lately I skip trades before London, wait for larger volume in London/USA to enter.
Yeah, I missed seeing this "No Demand".
Now got it that can look for "No Demand" before London.
3) Need to learn how to read, re-evaluate and get out fast.
Normally I let my trades either hit set SL or TP. Mostly SL!!
And would not want to exit so quickly as that buyers coming in was my actual real Entry-Short bar.
4) Need to learn about "buyers confirmed" and how to reverse entry fast once know it is opposite direction!
Normally I play in this order preferences EUR/JPY, GBP/USD, AUD/USD, AUD/JPY, NZD/USD, EUR/USD and USD/CHF.
Thanks Mal.
Cheers,
FB.