Remember what we talked on last Friday's webinar about the EURJPY?
Take a look at the H1 chart
As you can see, this is exactly how the methodology works. Perfect example as well as many others discussed on the webinar and on many trade setups discussed on the thread.
I didn't take the H1 short, I was not allowed to trade during Friday NFP session. But it was available for anybody who was able to detect it.
If you still have any doubts, please feel free to ask.
Alfonso
- We were bouncing off the D1 supply, third retest
- We were not allowed to set and forget
- We needed either the ascending trendline broken and/or previous compressed demand taken out on our entry timeframe
That's just what has exactly happened.
Take a look at the H4 chart
- Price hit the D1 supply for the third time
- Ascending H4 TL has been solidly broken
- A brand new H4 speedbump supply has been formed. No pullback yet. This looks like a valid short setup
Take a look at the H1 chart
- Price hit the D1 supply for the third time
- On H1 the ascending trendline was solidly broken as well as previous demand. Brand new supply at 131.05, The first retest was the entry
- The trade has already happened on H1
- It's not possible now to short on H1 because we have no fresh H1 supply underneath the new descending H1 trendline
- But the H4 chart does have a nice H4 speepdbump that could work
As you can see, this is exactly how the methodology works. Perfect example as well as many others discussed on the webinar and on many trade setups discussed on the thread.
I didn't take the H1 short, I was not allowed to trade during Friday NFP session. But it was available for anybody who was able to detect it.
If you still have any doubts, please feel free to ask.
Alfonso
Set and Forget supply and demand trading community