Hi George, this is my first time to your blog, so forgive my late comments, and also the possible invalid view I may have.
After watching the video I was left wondering what the bias was here that took place. To my mind, and I mean no disrespect, the bias was long from the get-co. If you look at the weekly chart, AUDJPY was in a fantastic location of demand to provide a rotation back up. I realize too that you can still scalp H4 charts against the prevailing trend, and I am not sure if that was the intention, but the probabilities seem to be (in hindsight of course), that grabbing a long back up to the supply was the best play. But I also realize thats not really the intention of the post - its about having observations and honoring them in the process/trading plan. That makes a lot of sense to me....Yet I wonder if, trading supply/demand, if you looked at whether you were in major supply/demand, that would have resulted in no shorts at all here - until price gets higher and fails? It seems the predicate was that yo had a pinbar at the 20ma, which I fear is destined to fail., but thats me and it is not my intention to knock your approach George - I appreciate you sharing your ideas.
Hi George, this is my first time to your blog, so forgive my late comments, and also the possible invalid view I may have.
ReplyDeleteAfter watching the video I was left wondering what the bias was here that took place. To my mind, and I mean no disrespect, the bias was long from the get-co. If you look at the weekly chart, AUDJPY was in a fantastic location of demand to provide a rotation back up. I realize too that you can still scalp H4 charts against the prevailing trend, and I am not sure if that was the intention, but the probabilities seem to be (in hindsight of course), that grabbing a long back up to the supply was the best play. But I also realize thats not really the intention of the post - its about having observations and honoring them in the process/trading plan. That makes a lot of sense to me....Yet I wonder if, trading supply/demand, if you looked at whether you were in major supply/demand, that would have resulted in no shorts at all here - until price gets higher and fails? It seems the predicate was that yo had a pinbar at the 20ma, which I fear is destined to fail., but thats me and it is not my intention to knock your approach George - I appreciate you sharing your ideas.