Updated

15m USDJPY soon ready to come out of consolidation

there is going to be a tiny dip. I plan to buy the absolute bottom for the best RRR risk reward ratio. Take a quick short pop up. This will happen within the next two hours or sooner. A quick little day trade for me.

Note

I am almost ready to enter. However, I am holding steady, as I want to see a bottoming. Then, I will take it long, riding it through the current channel on the 15m, breaking the top of that channel. It is a compact little trade.

Note

STARTing to come closer to my entry point. Hope it drops some more before I buy the low.

Trade active

The first 1/3 of my position got in. I put a limit buy order at 153.55. I limited in to a buy position. This is going to be a really good trade.

Note

in terms of the current down move (ie within the context of the consolidation channel, there is a small down move taking place. There is not much momentum left in this small move down. The turning point to the up side is coming within the next half hour or less.

Trade closed: stop reached

Well, this is the shakes. Trading is like this. This move was clearly called out by me. I did get into the trade. However, if you look, right before it moved straight up, it dipped. Well, all of my 3 positions got stopped out and instead of a 4 RRR trade, I ended up losing 1R. (each R is 2.25% of my account. So, if I lose, I lose 2.25% and if I win, I usually win 4%). Well, that is the life of a trader. I am not worried though. As long as i keep reading the charts and managing my trades, I have no worries. Onto the next trade. Watch for more published trades coming soon. cheers.

sailboatevanmoser

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sailboatevanmoser