GBP/JPY nice EP gave us a trade
Here is a perfect example of a classic CD-X Pitchfork giving us a bounce of the lower parallel (LP) in combination with an INS (daily support&resistance) line, thus creating an energy point (EP) and increasing probabilities.
The S/L (red diagonal line) as you can see gets smaller and smaller the more price moves on, one of many advantages of this strategy, and is set so we risk 1% in 5pips. Price immediately (0 drawdown) took off for 33pips after that bounce. If excited at the top this could have given you a 6% return on account in a very short time.
The power of precise execution and patience:)
This post (comment) is for educational purposes only. Past trading results DO NOT guarantee future performance.
The S/L (red diagonal line) as you can see gets smaller and smaller the more price moves on, one of many advantages of this strategy, and is set so we risk 1% in 5pips. Price immediately (0 drawdown) took off for 33pips after that bounce. If excited at the top this could have given you a 6% return on account in a very short time.
The power of precise execution and patience:)
This post (comment) is for educational purposes only. Past trading results DO NOT guarantee future performance.