 You're right guys, so I just wanted to Go over this trade and I think it's a really really nice set up the pairs all right as well from a Pound yen perspective if it's on your list of trades to take fundamentally now Again the setup really is understanding the level. Yeah, so look at this Really really nice hard in hard out. There would have been a really nice I say really nice already obvious level and that traders would be you know looking at to the left. Yeah If you think about it's the most like kind of recent You know level in history. Yeah, there was definitely Buying going on here. So understanding that when prices do come back down to this area here Yeah Traders are gonna start to do what start to look to potentially, you know, bye in and around here. What you get is Breakout traders start to get involved in this look at that. Yeah, so FOMO starts to occur traders start to get short especially when you consider the recent price action Yeah, risk off was in the market a bit more and then all of a sudden now Look at that. Lovely. So by everybody's stretch of the imagination You know and looking to the left that level that area has clearly clearly clearly gone You know creating again, they were really three traders in the market. So you got breakout traders You've got retracement traders and you've got level traders, right? That's it. We've got hundreds and possibly thousands of strategies But that if you're trading around support and resistance, then there's only really free main Disciplines and it's and it's that So with that being said Let me let me just Kind of just put that in perspective So breakout traders we know for a factor in their trades. Yeah, we know for a fact They are because that's their strategy so Where were they where are they likely to place their stops and again, this is an hourly chart They're probably you know some breakout traders on the say probably but there are 50 there are 15 minute five minute 30 minute, you know 10 minute traders depending on the time frame that they trade But generally you would have traders that are getting involved somewhere in and around here With their stop losses probably either above, you know The sensible ones are going to put their stop losses above there They're generally that's pretty about a night if I pip stops. So you probably have traders with tighter stops In and around here. Yeah, so they're looking for at least, you know one-to-one or at least two-to-one type trades and Prices start to stall right? So then you get a bit of a pullback and again as I mentioned you get what's known as the retracement trader So they're trading on the off the underside of that level Yeah, and the side of this level here and You get them price action really starts to look like it's selling off nice engulfing candle on that on that hourly time frame Yeah, so more traders and more traders are getting involved placing their stop losses here You know entering in and around this area around here Right starts to go in a direction starts to look like it's still going in the direction again engulfing candles You know, it might be just a bit of a deepest Deeper level and then all of a sudden it starts to now go against them. Yeah go against them This is the pain. This is the pain involved, right? If you've got in short around here, and you're not disciplined, right? Lots of version bias is a real thing. Lots of version bias means that Pain feels worse than gains feels good, right? And it's actually a true real psychological Thing right and it displays itself in the market by Traders not being able to accept the loss so what traders generally do Is they will move their stop losses prices going against them or remove their stop losses all together But let's just you know Or not even trade with stop losses basically But let's just imagine that you know instead of risking, you know 1% for example or 2% or 5% that some traders do which is really Nonsense, but let's just say well nonsense I shouldn't really say that if you're profitable then fine risk what you want, right? But but for someone who's for traders retail trades that are learning and are not profitable You should know way be risking anywhere, you know over over 1% I wouldn't even say 1% You know tell traders 0.1% should be where you should really start from anyways You're moving your stop loss all of a sudden instead of risking 1% your account to percent of your account now you're down You know five ten fifteen percent Thing that you you're definitely looking at now is trying to get some pain relief Yeah, you want the relief and the relief will come when You if prices ever come down to an area where you place your original stop loss, right? So original stop loss placement was somewhere around here somewhere around here, etc And if you weren't short around here thinking that there was gonna be you know prices were gonna gonna continue to the downside Yeah, you went short here in order to exit your trade. You have to buy which is demand. Yeah, which is demand so One of the things you have to always ask yourself at a level is why is it gonna be more demand than supply at a certain level? So This is one of the reasons right in an in around this area Not only going to have traders that are caught in this area, right and that are begging for For some some sort of pain relief the pain being that you're seeing your unrealized Loss get larger and larger potentially blowing your account if prices come down here The first thing they're gonna do is exit their trade So that's buying you've got traders who trade support and resistance, right and obvious level of support there Bit of resistance. They're gonna be more buying here as well as Traders who are fading this area, right? If you're basically selling up here, and you want to take profit somewhere Where's the area that you want to take profit at an area where potentially there could be a reversal? Buying in and around here. So you're gonna have demand a lot of demand in this area now From a fundamental perspective, which is what we always should be looking at really and truly again, not financial advice at all But British pounds are really ahead of the Japanese yen in terms of you know, the economy Potentially hiking interest rates and and the like so really truly it's just buy trades On this pair if it is a pair that you're interested in so Where we're at now, right some more pain going on as prices make higher highs higher lows, right? Some more pain Which is brilliant? These guys are gonna be very very motivated to want to get out of their trades at this level This also creates and this is what is known as an intraday demand zone You know, I don't we don't trade demand zones as far as we don't plot demand zones in a way that You know is taught online And I say taught online, but on YouTube etc. That is demand that is gonna be your demand zone Yeah, this is gonna be your demand zone Right so in prices if if price ever come back down here and we're in a risk-on environment Remember we have to be in a risk-on environment in a risk-off environment, then the Japanese yen is just going to strengthen regardless. There's no technical analysis setup that's gonna stand no stand in the way of Fear uncertainty and doubt and safe haven plays doesn't matter how great the set the technical setup is because at the end of the day if The market thinks that you know market wants to pile into a safe haven asset Due to you know fear uncertainty and doubt as much as there might be a lot of demand here There's gonna be more supply because traders are piling in they don't care about the technicals when it comes to You know protecting their capital Yeah, they care about protecting their capital. They're not thinking to themselves Oh, I'm gonna protect my capital only up until this point. No, it doesn't work like that They're gonna they're gonna continue to protect their capital and piling to safe haven risk-off Assets which are which is one of them is the Japanese yen But from a technical analysis perspective if prices ever come back down here, right and risk is on and the British pound is Still doing decent when it comes to you know, the economy inflation Central bank isn't you know, that hasn't turned really dovish They're still kind of more neutral potentially hawkish and the market believes that they're going to Hikrates ahead of the Japanese of the Bank of Japan then this for me is actually a really really really nice trade Anyways guys, I hope you understand that and Let's see what happens if prices do come back down here and again as well We could price could go straight through right nobody knows what's gonna happen to price It could cut through like a hot knife through but we have no idea. I'm not saying it's going to reverse around here what I'm saying is is that if prices come around here and You know, there's a there's a there's an entry candle that we use There's an entry in your time frame that you that you trade this and you've got a good risk of wards You know zoom out look at the you know the daily time frame look at where we are potentially Look at the upside potential if you're right about this trade We look at the bank forecasts as well, which is found in the bank forecast channel Look at the majority of where the banks are forecasting from, you know, Citibank to Mizzou hoad ANZ etc if they if you can see any bank forecasts on this and Then that's really nice. So I do really like this from an intraday perspective and Yeah, that's that's a really nice trade setup CPR. Anyways guys take care and I'll speak to you all soon