GBPJPY ABCD pattern part2 (waiting for price to resistance)
Updated
Unfortunately the previous trading plan failed, because there was no significant price resistance.
but stupid me, I immediately Sell it right away, because I saw the appearance of the doji candle, without waiting for the next candle first. then the next candle formed a bullish enggulfing candle, so I immediately cut my position at that time so that my losses would not be too big.
On this idea I will still try to sell, still with the same pattern (ABCD), but on this idea the chance of success is greater because in this area there is resistance along with In Ret 0.618, and a bigger pattern, plus the possibility of formation a double top.
Entry : Learned from previous entry mistakes where I was not patient enough, and for the current entry I don't want to repeat the same mistakes, I will wait until the candle runs out, and if a price resistance candle is formed such as a shooting star , or bearish engulfing, etc.
then I will sell at the next candle (if a candlestick pattern is formed)
SL : 80 pips
TP1 : 148.53
TP Final : 147.03 (EX Ret 1.618 And AB=CD 1:1)
RR=1:5
but stupid me, I immediately Sell it right away, because I saw the appearance of the doji candle, without waiting for the next candle first. then the next candle formed a bullish enggulfing candle, so I immediately cut my position at that time so that my losses would not be too big.
On this idea I will still try to sell, still with the same pattern (ABCD), but on this idea the chance of success is greater because in this area there is resistance along with In Ret 0.618, and a bigger pattern, plus the possibility of formation a double top.
Entry : Learned from previous entry mistakes where I was not patient enough, and for the current entry I don't want to repeat the same mistakes, I will wait until the candle runs out, and if a price resistance candle is formed such as a shooting star , or bearish engulfing, etc.
then I will sell at the next candle (if a candlestick pattern is formed)
SL : 80 pips
TP1 : 148.53
TP Final : 147.03 (EX Ret 1.618 And AB=CD 1:1)
RR=1:5
Trade closed: stop reached
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