FX-exclusive trader cat's pound-yen trade explanation 0316

I am a full-time FX trader, a cat.

This time is about the trade on Monday, March 16, the day of the Bank of Japan's urgent policy meeting.

First, the 4-hour chart.

N-Method unfortunately ended with a break-even withdrawal.

It was entered before the decision meeting.

The bands show the opposite side closing, momentum is weakening, and the two moving averages are also trending downward with RSI weak, leaving gaps similar to the Bollinger Bands at the 30 level.

Next is the daily chart.

The far-right candlestick is a bearish one and the band is walking.

The opposite side of the Bollinger Bands is closing in, momentum is weakening, but the downward pressure remains strong.

I entered much later than the N-Method in my main occupation and captured about 120 pips.

In a trend with not much momentum like this, timing entries is difficult, right?

You worry that it might move against you the moment you enter.

In discretionary trading, I tend to do more counter-trend than trend-following, so there are plenty of opportunities, which is nice, but

For those who specialize in trend-following, it can be a troublesome issue.

However, in such times you can only wait.

If you can wait for a week, isn't that the real thing?

N-Method is here