Trades week ending 23/12/22

[Ben]

EURJPY Buy (Win)
Trade idea: Inner Range MTS run
Entry 06:45 @ 140.73

Pros:
– MTS above price within range
– Net DM short
– Inner Range stop run, simple setup
– H4 bottom of range
– Daily chart had a big drop that took out daily 200MA stops, so long trade was a breather move
– Net DM short line rising
– STS below the price but far away
– No major fundamental news inbound

Cons:
– Low DM flow
– No Short squeeze

Target set to round number of 141, just below MTS.
SL set to 140.50, giving a RR of roughly 1.

My first demo trade and I’m happy it was a winner 🙂

Did anyone else play this one today? Any feedback/insight welcome!

[Thuy Pham]

Orange lines above price is not MTS, but sell limits.

[ImpliedOdds]

Hey Ben. I wasn’t on the charts today, but looks to me like you assessed this one very well. Always tough to tell exactly what levels these stops are at, but looks like about 141.00-ish, so at least good for 25+ pips. Nice trade. Hope Djamal and/or some of the other vets can comment as well. I’m on demo too. Keep going!

[Ben]

Thanks guys for the comments.

@Thuy Pham yes, that’s a good point actually. Your comment made me go watch the YT video on the indicators again as a reminder. I’ve also seen your other forum post on requesting the colours be change, and I agree it is confusing having them the same colour!

[Author]

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