GBPJPY 29 Apr
This is another good trade that I missed… Could have entered one pip above candle A, since there’s support at the bullish trendline and candle A is a bullish candle, trapping bears.
I learnt that buying when price finds support at a bullish trendline, or selling when price meets resistance at a bearish trendline, is an extremely high probability trade. Even if you are wrong, you can normally get out at close to breakeven.
I’ve been reading up on price action lately, and have experienced success with the technique… In fact, I like trading with price action, cause it finally made sense to me… I finally figured out what my edge is in trading… I always believe that if you do not know your edge, you will not succeed…
Anyway, I’m contemplating whether I should sign up for this course… Trading in the Buff.. It’s got pretty good review at forexpeacearmy.com and at $77, it’s definitely affordable… I guess I will sign up for it in the near future… but before that, I got to finish reading through other resources first…
For those of you interested, in addition to the Trading in the Buff course mentioned above, here are some useful resources on price action:
GBPJPY 27 Apr
This is a trade I missed…. I could have sold one pip below Candle A, which is an outside candle. Another possible entry is one pip below Candle B, which is a Pin bar.
However, in both cases, the signal candles did not really stand out… I would prefer candle A and B to be longer… so, I chose to skip this trade… which, unfortunately is working out fine at the moment… oh well…
Reason for entering trade:
The Bigger Picture GBPJPY 27 Apr
The Even Bigger Picture GBPJPY 27 Apr
Update:
This trade would have netted 296 pips if entered below candle A, or 254 pips if entered below candle B.
