USDJPY Short Fakeout Trade - 2nd entry
USDJPY Short Fakeout Trade - 2nd entry
We closed above Previous Day High and Weekly High with a strong momentum making new high and return below the zone twice,
Stop Loss 10 pips above the new wick: 144.740
Take Profit: 144.022
1. R:R 1:1, 0.5% Risk
2. After reaching TP closing half and moving SL to Breakeven
3. Trailing the rest with market structure on M15 and later H1
Close the loser before hitting full SL if price moves back to the breakout level without follow-through.
Close the winner if a reversal signal forms (e.g., engulfing pattern, pin bar), especially on higher timeframes like H1.
*CB Consumer Confidence later in NY session 4 pm.*
We closed above Previous Day High and Weekly High with a strong momentum making new high and return below the zone twice,
Stop Loss 10 pips above the new wick: 144.740
Take Profit: 144.022
1. R:R 1:1, 0.5% Risk
2. After reaching TP closing half and moving SL to Breakeven
3. Trailing the rest with market structure on M15 and later H1
Close the loser before hitting full SL if price moves back to the breakout level without follow-through.
Close the winner if a reversal signal forms (e.g., engulfing pattern, pin bar), especially on higher timeframes like H1.
*CB Consumer Confidence later in NY session 4 pm.*
Trade closed: target reached
According the plan: 50% closed at R:R (1 TP) and the other 50% is being trailed on H1. Closed P&L + 271.94$
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.