【This week's trade review】Pound/Yen January 3, 2022 - January 7, 2022 Result
1-hour chart
4-hour chart
【Market Result ①】
Entry (Sell) 1/4 10:01 GBP/JPY 156.194
Exit 1/4 23:08 GBP/JPY 157.151
Profit/Loss +95.7 pips
Since it broke above the recent high, I bought thinking it would rise, and it continued up, taking profit just short of 100 pips
【Overall Comment】
1 win, +95.7 pips. Not bad.
(A) was a doji-whisker pattern around MA100. It also hit exactly at 156.00 “00”. I thought the market would be thin after the New Year, so I wasn’t biased.
(B) was a perfect hit.
Looking at the weekly chart, a hit occurred around 157.00. Is 157.000 acting as a resistance?
Looking at the daily chart, the weekend close ends around 157.00. Is the “00” acting as a resistance line?
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I am trading based on Iidatchi-sensei's “Close Price Trading Method.”
※ A perfect-hit pattern refers to when the candlestick close is at nearly the same price as the most recent close (often forming shapes like a double bottom or triple top). This is treated as a resistance line for entry.
※ The whisker-pull pattern refers to entries when the close aligns with MA100, MA200, or MA300, with the expectation of a reversal.
Also, for Iidatchi-sensei's close-price trading method, you may refer to the following as well,
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EA that enters by setting a limit at the closing price “OwarineDeEntry”
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