Technician
Short

(J) Trade 23: #EURJPY Looking for more downside! #forex

FX:EURJPY   Euro / Japanese Yen
4109 17 76
Trade 23: Short EURJPY             @135.52
Trade Status: Pending
S.L 136.30
T1: 134.38
T2: 133.40

Balance= $29 104 Position size = 0.7 lot ~ 2.5% risk of capital
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Reasoning

Within the context of my previous analysis
  • Triangle breakout
  • Horizontal support breakout

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Technician
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stopped out also. think the 200 and 100 sma on the D1 were always going to be problematic/ a potential bounce point . We'd also gone from weekly support pretty much straight to weekly resistance and the natural move /path of least resistance was back to weekly pivot
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Am Selling this from here.
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looks still ok for a short, as i missed the trade when you posted it..
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Ye I got stopped out also for a 70 pip loss. Was a winner for 20 pips profit before it turned around. Thats technical anaylsis for you; its just an edge it doesnt have to do what we think it will…. on to the next one...
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Stopped out
Profit= -$710
New Balance= $28 394
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HEmmanuel Technician
Hi mate, isn't 2.5% risk slightly more under these low liquid, slow moving but then unexpectedly highly volatile market conditions which will last till the end of this month. I have decided to risk only 1 to 1.5% per trade. I am only risking 2% under certain conditions where I know momentum will be in my favour. Just wanted to know your thoughts ?
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Had this nicely going for over 20 hours and was well in to profit about 4x, then this decided to reverse for no reason whatsoever. Luckily I moved the stop to 1% of my stake and ended up with a 1:1 profit on this.
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jessetaylor HEmmanuel
Yeah, this one kicked me. Got stopped out.
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EURJPY RECOVER AND WE ARE SHORT :-(
+2 Reply
Update 1: The Trade is active now
+4 Reply
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