【FX full-time trader cat's Pound-Yen trade analysis 0421】

Now, the pound-yen pair.

Let's look at the daily chart.

It is squeezing and touching the -2 sigma, about to expand. The expansion will be confirmed late at night.

In the upper photo, I have a short position as part of my own trading, and this situation is about 140 PIPS.

Next, the 4-hour chart.

I opened a position with the N-Method EA entry, and it is currently 150 PIPS (the entry arrows on the 4-hour chart are from the previous one).

This time, the 30-minute chart (text says to set the EA to the 5-minute chart, but you may set it to any time frame).

The daily chart is in a fragile state, so why did I take a short position? Unfortunately, I cannot disclose the basis here, but it is the Golden Pattern on the 4-hour chart described in the N-Method text.

As a result, with confidence I turned ON the N-Method EA entry and took a short position in my main trading.

Next is the weekly chart.

The band has expanded while the moving average is downward-sloping, and the rate is below it, indicating bearishness.

It rebounded and fell at the -1 sigma resistance line of the downtrend.

Next is the monthly chart.

It started to go lower. I really don’t know whether it will become as severe as the Lehman shock… I don’t know.

Incidentally, my forecasts often miss the mark (laughs). But because I am aware of that, I anticipated the daily pattern would reverse and rise here after such a slow move to reach this point, and instead forecasted the opposite, namely a decline.

I moved toward my own stubbornness.

Of course, I didn’t enter based on a guess; I shorted based on the above 4-hour pattern.

Also, you may think the chart is simple, but no matter how many incomplete indicators you add, you won’t get closer to perfection.

If you tend to make predictions and end up trading too naively, why not reduce indicators as much as possible to make things harder to read?

Because predictive accuracy becomes extremely difficult.

[Attack is the best defense] Here is the N-Method ↓↓

https://www.gogojungle.co.jp/tools/ebooks/22300