I’m back to the videos to learn and demo trade. Here’s a basic trade idea I see.
1) Near top of blue band 4HR range.
2) Shorties over longies on DM indicator (more shorties than longies).
3) Longies in profit.
Unfortunately, stops not populating on any of the time frame charts for this pair right now, so targets aren’t available, but will monitor this trade for DM switches etc.
Trade closed early because? is this correct analysis
Trade: Long Stop target trade GBPJPY
Trade idea: Move up to take out the upper MT stop
Y-axis PB: No visible positions blocking or supporting price (Neutral) 50%
X-axis PB: Decent sized new shorts entering some old longs to (Neutral – Positive ) 75%
Net DM: In favour of longs and long squeeze (Negative) 0%
Net T-in-prof: Longs in profit (Negative) 0%
Lev Positions: no new shorts over lev (Negative) 25%
1D chart: All MA in trade direction (positive) 100%
Where in range: Extended from the 4H range (positive) 100%
Trade score = 3.5/7 50% (Medium trade confidence)
SL:156.854 (Below the lower stops)
TP:162.555(Just before the upper MT stop)
Trade Closed: Trade closed in small profit at 160.170
Reasoning: New longs entered the market (DM switch) and the target MT stop was removed. The MT stops below are close enough to be taken out. More likely to move down.
If anyone has some feedback be great