FX full-time trader cat Pound-Yen trade commentary 0415

This is the pound/yen for the 15th.

First, let's look at the daily chart.

As I mentioned in the previous scenario, I aimed for the middle band. I had a short position in my main trade, so I took profit at the middle band touch. 70 pips.

Let's look at the weekly chart.

It rebounded at the downtrend resistance line at -1 sigma.

It expanded and fell below RSI 50. As I mentioned before, if you squeeze to the N-Method benchmark and then take a counter-trend entry, you should wait until after the expansion, and in this case wait until the daily middle band.

Now on the 30-minute execution timeframe of the N-Method,

I entered on the second arrow in my main trading. This can be a discretionary entry with a pin bar for the N-Method. But you can also enter at a better position with the first arrow as a discretionary entry. The upper shadow bearish candle with MACD histogram and stochastic both in the same direction is satisfactory. In all cases the moving averages are down, and the price is below them, indicating bearishness.

What matters is experience and instinct. The desire to seek knowledge, rules, or methods stems largely from a cowardly yet greedy mindset that wants to safely and surely make a lot of money.

Study is important, but you should not expect to win in the market with study alone.

N-Method is here