Short

EURJPY Three Drive!

By UnknownUnicorn40695034

Updated

Either I'm really smart or really not so smart taking this trade. Entry @150.223.

Trade active

Plan remains the same just added an S/R level that caught my eye for a possible retest.

Trade active

Closed half position @147.966

Trade active

Waiting for daily close before moving stop to BE.

Trade active

Moved stop to BE. That’s a W.

Trade closed manually

All out @148.650. May consider re-entering.

Trade active

Re-entered entry @148.514

Note

Sentiment currently not in my favor, but I trade price action first and foremost. We’ll see how things play out.

Note

My risk management:
Margin 30% max of account.

I Use the best indicator in the world for my stop loss placement. The ATR (Average True Range). Take the previous daily candle ATR times 1.5. If you’re long subtract those numbers with your entry and if you’re short add those numbers with your entry. You can also use those numbers for taking partials and trailing your stop.

I usually take half off when taking partials. Helps keeps things in check psychologically.

I don’t move my stop to break even until I get at least a daily candle close above (long) or below (short) my take partials level. Once this happens for me that’s a winning trade. I took money out the market and I’m sitting on zero risk for that trade.

I’m a swing/position trader so keep that in mind.

UnknownUnicorn40695034

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