Entry - 127.64
Target - 126.9 - 74 pips
Stop Loss - 128.1 - 46 pips
The risk to reward on this one is a bit better than recent trades. I'm not currently in the trade, but I do have an entry short off of the Ichimoku conversion line (thin green line) and area of previous support (light blue line at 127.695) on the four hour chart. I'm hoping the 30EMA sinks at or below my stop loss by the time the entry level is hit. Ideally, the 200MA (darker blue line) would be above the Ich Cloud for me to consider a valid trend continuation, but I'm willing to put on a medium sized position for the chance of hitting a small double bottom. EURJPY is a rangy pair and it is apt to make sharp moves, so I'm not completely confident in this one, but it looks like a fair opportunity.
I'll update the trade as needed. Thank you for looking!
-Zedro
Target - 126.9 - 74 pips
Stop Loss - 128.1 - 46 pips
The risk to reward on this one is a bit better than recent trades. I'm not currently in the trade, but I do have an entry short off of the Ichimoku conversion line (thin green line) and area of previous support (light blue line at 127.695) on the four hour chart. I'm hoping the 30EMA sinks at or below my stop loss by the time the entry level is hit. Ideally, the 200MA (darker blue line) would be above the Ich Cloud for me to consider a valid trend continuation, but I'm willing to put on a medium sized position for the chance of hitting a small double bottom. EURJPY is a rangy pair and it is apt to make sharp moves, so I'm not completely confident in this one, but it looks like a fair opportunity.
I'll update the trade as needed. Thank you for looking!
-Zedro
Сделка активна:
Entry has been hit. Trade active. The level has held and price has fallen, but there's been a quick retest of the entry level. Should be an interesting trade. No changes to TP or SL.
Сделка закрыта вручную:
This was a close call. I'm not thrilled by how this trade has gone. I'm going to take profit early. Closed trade at 127.2 for around 44 pips. This could still work out, but don't the PA and will find opportunities elsewhere. Not a good trade
Комментарий:
Well, it was a good thing I got out of this trade early. My stop loss would have been hit. I had wanted to stick with my plan, but when the price rebounded so sharply after getting around 10 pips from my target, I know the bulls were in control. I'm grateful to have read that correctly and took some profit, but disappointed in the entire thing in general. Better luck next time.