GBPJPY Insight

"Predicting the future is a human ability; the challenge lies in the trouble that surprises bring. That's where it all matters."

In past articles, I have shared tips that may aid you in trading. However, the truth remains that in trading, nothing is certain. Even if you execute all the right steps, there's a possibility that a trade may not go as planned. My approach is always to enter trades where my chances of winning are around 70%. Yet, once I've taken the trade, I remind myself that there is an equal 50% chance of winning and losing. Keeping these considerations in mind, I am now going to delve into the personality traits of GJ.

Personality Traits of GJ

Retest: Numerous times, I've emphasized the significance of the term 'retest' in my previous articles, particularly in the context of GJ trading. However, the challenge arises in how to accurately identify these retracements.

Fig1.1- Opening for trade

n Fig 1.1, there are two instances where the market is retesting the resistance zone, providing two potential entry points.

Fig1.2- Bigger picture

Yet, Fig 1.2 showcases the market retesting a previous zone, underscoring the importance of understanding the overarching trend in higher timeframes like 1-hour, 4-hour, and daily charts.

Fig1.3- 30min opening

This is same chart but smaller timeframe (Red box-Time-13:30IST), as illustrated in Fig 1.3, where one can apply specific trading techniques for making informed entries.