Saravan
Long

GBPJPY Buy around 156. Retesting the broken trend line

FX:GBPJPY   British Pound / Japanese Yen
159 8 4
Hello traders,

This is the confluence area of previous structure support , 61.8 fib of last daily high low and the previously broken trend line . A good shot for Longs.

Good Luck!
159 is on the board for today ?

and what about 162 coz i m long at there.

thanks........
Reply
Saravan RajaRashid
I would say 156 is more likely by this week than 159. We can look for longs probably only next week. Do you have a buy stop @162 or you already took long position from 162?
Reply
RajaRashid Saravan
because of low equity i was on long at 162, coz the new was about 163.5, if market goes there, my account could b washed out, but immediately as u know in seconds market fall down 400 pips, so i hanged there...

that y i want to know should i hold that position or close that trade around 159 or 160.

Thanks
Reply
RJHumphries RajaRashid
If you have a loosing trade that is stressing you out it might be best simply to close it, take the loss, love the loss and then using fresh perspective take another trade when you see an opportunity.... :)
Reply
Saravan RajaRashid
Or at least take the loss mentally. Put a stop loss somewhere below 155.50 and take the loss mentally. Otherwise it is going to stress you out.
Reply
Saravan RajaRashid
Hope you closed your position when it went back to 157. USDJPY falling like crazy dragging other pairs.
Reply
RajaRashid Saravan
Thanks for remembering me......... i have lost my account (the whole money $3,730)
Reply
Saravan RajaRashid
Sorry to hear that. I have been there in the past. But my 5 cent advice, which you might have heard 100s of times. "Implement good money management and Protect the capital".
Reply
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