Been talking alot with Dan from Life Holdings lately, he’s a fantastic tech trader despite being such a young age. Take a look at these simple charts and see if you can understand the interpretation.
Current GBPJPY 4 Hours Chart
Current GBPJPY 1 Hour Chart
Current GBPJPY 1 Hour Chart – Range
USDJPY Mouteki Trade
I’ve been sharing with him on my personal problem of entries and exits, though we’re using both the same trading methodology and these charts has enlightened me a great deal. THere are a few more charts that he touched on, but I think these will be enough for now.
We’ll explain on the charts later, but let’s see if anyone is able to tell what did he drew?
I will try…
1.- Price doesn´t break the trend line, double top, macd divergence and fibonacci retracement = down.
2.- Price doesn´t break the triangle + it breaks the trend line downwards + macd divergence = down.
3.- Price moving between support and resistances, double top and macd divergence = down.
4.- Never used that method.
Hehehe. I’ll decipher soon, but good intepretation
Or maybe Dan can do it for us (tsk, he’s trying to improve on his lingual skill to explain like a pro (though he’s already one when it comes to trading)