Nipponho wrote:Yeah, after captain issued the alert, it looked quite high probability . There were several hits to the high of day without surpassing. I was also waiting for entry and waiting for it to surpass the high by a bit and then came back down. This did not happen and I hesitated to enter because the hunts often occur at session changeovers, so I waited for US to open, and I was not given the opportunity to enter, and I found GU instead and saw the accumulation going on (or at least that was what I perceived).
I was lucky as I would get stopped out and scratching my head if I entered during London session. But also very unlucky as I missed the expected move as captain’s alert was proven correct, just that the entry timing made all the difference. 100 pip move, what a big waste.
What do u think of EG for tomorrow? 3 levels neatly displayed on H1. On M15, second leg in the process and one long pin. Does this pair behave well in the past during M&Ws?
If you review the thread, you will find where I posted examples of live trades DURING news events. You will also note that I have stated "news" is not news to some people and this is how they unwind positions or establish new positions, QUICKLY. It's how they create the volume of transactions needed to move price the distance they need to book their profit. Remember that PIPS are the unit of measurement for price movement. It takes days or weeks to build their position, but minutes to unwind it and book the profits.
The stop hunts at the beginning are to do just what they did, clear you and others of correct trade positioning or to force you into the wrong position. That's why the 1st move in the "hunt" is usually a false move. Understand there is no reason to establish a position BEFORE a "news" event when you can use the edge of the false trade for placing the position.
CADJPY was a perfect setup, generating thousands of pips with stacked orders....
Look for a rebound long trade here...
CJ |
