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ramon1981
May 28, 2023 7:32 AM

Divergence on Daily chart Short

GBP/JPYOANDA

Description

Hi All,

I had a short position about 172.700, end up entering the position before the YEN news...and unfortunately was some bad news, but in multiple time frames the pairs has created a bearish divergence including on a Daily chart.
I have quite a big position in the pair, bit under 9k, so for now I will see what happens on monday, might have to keep buying to average my position out if the worst case scenario.

It's a FOMO mistake in not waiting for the news before entering my trade, even if the technicals are looking good, make sure the Fundamentals match as well.

It's one of my common mistakes, rushing trades and not paying much attention on fundamentals.

peace out

Comments
Divergencify
maybe hedge half. I took a loss on this pair on Friday. keep hour head up
ramon1981
@Divergencify , I have already started, might wait a bit to get another, most likely will average out to 172.950 to get out of the position
ulove2212
gbpjpy will fall and retest 173.10 you can close here or you can take the buy position from here to hedge the funds.
ramon1981
@ulove2212, I reckon it will drop to my pivot point where my green line is..
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