USDJPY Sell Position
Updated
Trade Journal Entry
USDJPY Sell
Time Frame:
- Daily (FVG Identification)
- 4-hour (Entry Signal)
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1. Trend Confirmation:
Identified a Break of Structure (BOS) on USDJPY by breaking the previous low at 143.43, indicating a continuation in market sentiment and confirming a bearish trend. Noted as well that price is just below a trendline, providing another resistance for price to break.
2. Fair Value Gap (FVG):
On the daily chart, noted a Fair Value Gap between 145.00 and 144.25. This gap is a potential reversal zone where the price has revisited, providing a trading opportunity.
3. Entry Signal
On the 4-hour chart, an engulfing bearish candle formed after touching the identified FVG zone. This pattern aligns with the bearish trend and indicates a potential continuation of the downtrend.
4. Trade Execution
Entry Price: 143.58
Trailing SL: 144.70 (above trendline)
TP1: 140.00-140.5 (previous low)
TP2: 135.00 (1.618 Fibonacci)
Risk-Reward Ratio (RRR): 1:3 - 1:7.5
Monitoring: Check-in daily at 8 AM & 8 PM
5. Outcome:
Exit Price:
Profit/Loss: pips
Summary: The trade is based on a bearish trend confirmed by down trendline & the break of the previous low supported by the bearish engulfing pattern within the daily FVG.
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Linarto Wijaya
USDJPY Sell
Time Frame:
- Daily (FVG Identification)
- 4-hour (Entry Signal)
---
1. Trend Confirmation:
Identified a Break of Structure (BOS) on USDJPY by breaking the previous low at 143.43, indicating a continuation in market sentiment and confirming a bearish trend. Noted as well that price is just below a trendline, providing another resistance for price to break.
2. Fair Value Gap (FVG):
On the daily chart, noted a Fair Value Gap between 145.00 and 144.25. This gap is a potential reversal zone where the price has revisited, providing a trading opportunity.
3. Entry Signal
On the 4-hour chart, an engulfing bearish candle formed after touching the identified FVG zone. This pattern aligns with the bearish trend and indicates a potential continuation of the downtrend.
4. Trade Execution
Entry Price: 143.58
Trailing SL: 144.70 (above trendline)
TP1: 140.00-140.5 (previous low)
TP2: 135.00 (1.618 Fibonacci)
Risk-Reward Ratio (RRR): 1:3 - 1:7.5
Monitoring: Check-in daily at 8 AM & 8 PM
5. Outcome:
Exit Price:
Profit/Loss: pips
Summary: The trade is based on a bearish trend confirmed by down trendline & the break of the previous low supported by the bearish engulfing pattern within the daily FVG.
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Linarto Wijaya
Trade active
ActivatedTrade closed: stop reached
SL touched, triggering 110 pip loss.
Lesson:
The FVG used is on the premium side (above 50%) of the trend. There's another FVG on the discount side (below 50%) of the trend, between 150.80 - 152.60. We'll be expecting the price to retrace to this area.
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