- Analyzing the trade from last week on YM and seeing if there are any adjustments we can make.
- Hourly chart entries for traders who still believe in the bullish move.
- Trader mindset announcement.
The trade
Last Monday, we looked at a long trade in YM. Let’s go over the updates and see if there are any things we can adjust in the meantime.
Price has bounced out of the support zone.
The macd is about to cross bullish.
A bearish sign is yesterday’s candlestick pattern which is an inverse head and shoulders, and today’s candle is red so far. Traders can close half the position now if they wish, move the stop to break even, and leave half the position to run till the target is hit. This was a position that was meant to be held for around 2 – 3 weeks.
Hourly Chart
Traders who still believe in the bullish move can wait for a pullback to the 50% level on the Fib retracement for the recent rally. This can be viewed on the hourly chart.
Announcement about trader mindset
Soon, we will be launching something called ‘trader mindset.’ It’s a series of 1 on 1 sessions traders can book to have with Jay.
In these sessions, we are going to focus 80% of our attention on mindset and 20% on the practical elements required in trading and markets. We are going to look at your schedule, personality, and trading philosophy to begin building a solid plan you can rely on. We will not cover trading strategies in these sessions nor technical patterns or setups. I am simply here to help you understand the best path forward toward achieving trading success. I am here to support you. We will be releasing a video soon with more details.
Topics we will discuss include:
- Objective trading vs. subjective trading
- Developing an actual plan and something that you can trust
- ‘Importance’ as a major factor in why failure arises and how to release it
- The ego and its role in trading decisions
- How you can make trading easy
- How to make the choice that successful trading is what you actually want
- Vital exercises to improve your trading ability and decision making
- Why your expectations on the outcome are the reason things don’t work out
- All major athletes need coaches. Trading is no different
- How to think in probabilities
If this is something that interests you and would like to be added to the list for a free session once rolled out, please add me on discord here Jay-OUP#6138, or send me an email at jay.g@oneuptrader.com
