[PON/JPY Scalping] +70 pips! Review and today's strategy
Good morning!
Yesterday I made +70 pips across three trades,
and I was personally quite satisfied with the trades＾＾
First, I’ll review those three trades.
■ Entry NO.1
“Reversal after a sharp rise, then a follow-through”
＋25 pips
・GBP/JPY 5-minute chart
・MT time 12.05/9:10
This was yesterday’s first trade.
The price movement was fast,
so I couldn’t take a screenshot for the reversal
only the breakout long image is there＾＾;
GBP/JPY is often seen with
a pattern where it climbs rapidly all at once.
Originally I was thinking below
“If a flag forms, I’ll go long.”
so the movement was as expected.
But there wasn’t a clean shape,
so my scenario was disrupted,
and I didn’t take the long.
Therefore, watching the candlestick behavior,
I lightly took a reversal trade.
Both price action and time-wise
I judged that the upward momentum hadn’t weakened yet
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Return outside BB 1σ and bounce
1-minute chart pullback buy
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Long entry.
As planned, I earned a total of 25 pips round-trip.
In truth I didn’t have to take reversals, but
these are the moments where a gambler in me shows up＾＾;
A reflection.
■ Entry NO.2
“Rising after a horizontal range, resurges”
＋15 pips
・GBP/JPY 5-minute chart
・MT time 12.05/9:45
This is the standard pattern, isn’t it.
Rise ▶︎ Range ▶︎ Rise again
In this sequence of trends,
it’s a very commonly seen pattern.
It’s that usable＾＾
Without thinking about complicated stuff,
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・A strong surge and drop occurred
・First horizontal range confirmed
・Enter at range upper/lower bounds
【Note】
・Be mindful of the time window
Target times when the rate tends to move
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In summary, it’s like this.
Please try testing it＾＾
Incidentally
The original arrow I developed
also picks up these kinds of points!
Yesterday I entered with this arrow twice!
The first one I jumped on with ulterior motives
and entered at a relatively poor point w
A reflection.
■ Entry NO.3
“Follow-through with a flag pattern”
＋30 pips
・GBP/JPY 5-minute chart
・MT time 12.05/13:55
This was a problematic entry.
What was the problem?
It turns out thefirst top position was an erroneous order
I usually enter/exit on my PC,
but the PC’s mousepad responds to touch,
so sometimes I place erroneous orders.
I only want one position, but
I’ve accidentally taken two positions with a touch＠o＠;
It’s troublesome~
With all that,
the relief of correcting a misorder keeps nagging at me
and that trade turned into a mess.
Originally
‘Long near the trendline’
so
when it came back down
I entered with two jabs at the middle level
and then as it went down further
I captured the main three entries in one swoop!
This trade was also simple
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・Eyes on the upside
・There could be a resurgence in the range after an ascent
・Prices are traded within a channel range
・To form the flag,
it may dip once to hit the trendline
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That’s how I bought it!
Basically, the movement went as expected, but
it briefly dipped, didn’t it.
I thought it would break higher a bit more cleanly,
so I misread that part.
Like this,
three trades totaled +70 pips＾＾
------Today’s GBP/JPY strategy------
▶︎Technical
Outlook is bullish, mainly aiming for a pullback buy
Until the daily chart’s trendline,
I can’t casually short.
If it hits the trendline,
this could be the third attempt to break out, so
there’s a possibility of consolidation around the line before a break.
"Overconfidence leads to accidents"
Watch the price action near the line and adapt as needed!
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■ 30-second binary results
Over 50 performance images posted!
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https://profile.ameba.jp/ameba/viga-trader/
