GBPJPY 1.04% Return Trade Closed
Updated
Good Morning guys, I just not to long ago closed this buy on GBPJPY - I Took the trade yesterday evening and held it (during the Asian session overnight) I just woke up
Let me explain why I took this trade
These are my confirmations\questions >
Question 1 - Was GBPJPY in momentum (bullish or bearish)?
Yes, GBPJPY was in bullish Momentum at the time of me looking at it
Question 2 - Who was interested (at that time)?
Buyers were interested at that time
Question 3 - Where were their stop losses?
Stop losses would have been right below the highlighted levels (purple circles) & below the purple horizontal line (break out buyers)
Question 4 - Have those stop losses been taken out?
Yes I believe Stop losses would have been taken out already on GBPJPY (Red X)
Question 5 - Did the set up make sense for me to pursue?
Yes I believe it made sense for me to pursue this trade given the information I had
When I woke up GBPJPY had a moved a massive 1:7.55 RRR, considering the fact that I risked 0.25% on this trade that would have meant had I closed at that RRR I would have taken home about 1.88% on this trade
BUT, as you can see where I closed it, GJ had already pulled back a significant degree and in fear of it pulling back more and taking away more profit from me, I decided to close it (plus I'm going to be really busy today so I don't have the time to actively trail my stop as it goes further (which I do believe it can)
My broker also shows a gap (I use ICM, whereas FXCM (tradingview) does not show a gap, which means manipulation is occurring somewhere in this area
I closed the trade at 1.04% Return, doesn't sound like much but do the math on it from a much bigger account and tell me if you think it is worth it
Plus I literally have been having an excellent week where I haven't lost any trades for the week, I'm on fire this week, let's see if I can keep it up
I have many more confirmations I look for, this is just to simplify it so that I can quickly explain to you the reader
Downvote\don't Boost if you didn't read this post and didn't try to understand
OR
Upvote\Boost if you did read this post and did try to understand
*Why don't I show my lot size?*
*How much money I make is no where near as important as HOW I took the trade*
Let me explain why I took this trade
These are my confirmations\questions >
Question 1 - Was GBPJPY in momentum (bullish or bearish)?
Yes, GBPJPY was in bullish Momentum at the time of me looking at it
Question 2 - Who was interested (at that time)?
Buyers were interested at that time
Question 3 - Where were their stop losses?
Stop losses would have been right below the highlighted levels (purple circles) & below the purple horizontal line (break out buyers)
Question 4 - Have those stop losses been taken out?
Yes I believe Stop losses would have been taken out already on GBPJPY (Red X)
Question 5 - Did the set up make sense for me to pursue?
Yes I believe it made sense for me to pursue this trade given the information I had
When I woke up GBPJPY had a moved a massive 1:7.55 RRR, considering the fact that I risked 0.25% on this trade that would have meant had I closed at that RRR I would have taken home about 1.88% on this trade
BUT, as you can see where I closed it, GJ had already pulled back a significant degree and in fear of it pulling back more and taking away more profit from me, I decided to close it (plus I'm going to be really busy today so I don't have the time to actively trail my stop as it goes further (which I do believe it can)
My broker also shows a gap (I use ICM, whereas FXCM (tradingview) does not show a gap, which means manipulation is occurring somewhere in this area
I closed the trade at 1.04% Return, doesn't sound like much but do the math on it from a much bigger account and tell me if you think it is worth it
Plus I literally have been having an excellent week where I haven't lost any trades for the week, I'm on fire this week, let's see if I can keep it up
I have many more confirmations I look for, this is just to simplify it so that I can quickly explain to you the reader
Downvote\don't Boost if you didn't read this post and didn't try to understand
OR
Upvote\Boost if you did read this post and did try to understand
*Why don't I show my lot size?*
*How much money I make is no where near as important as HOW I took the trade*
Trade closed: target reached
Closed trade at 1.04% Return
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