If it aint broke dont fix it

FX:GBPJPY   British Pound / Japanese Yen
156 8 2
I like it when TL's break rather than bounce.

Reason: it is more profitable because stops and trails get taken out in the process
Trade active: TP1 and TP2 have been acheived and amazingly enough stops did not get hit, I usually move stops to BE after tp1 but I totally forgot about this trade and looked at my phone and it was still open lol :D. TP3(152.00, I did not specify this price point) has also been hit which I did not expect so soon.

We will now open two orders, both shorts...one will be above current price and one will be below.

152.00 is a strong historical support but we see on higher TF that it is clearly in downtrend. Stay tuned for more.

Related Ideas

I don't understand this, isn't this suppose to be short? How can TP targets been reached as it's gone up?
2Greedy maksheetal
Limit order was made, price did go up but never broke our trendline. When it did break it shot down and hit my orders
maksheetal 2Greedy
Oh, okay, thanks. I'm still learning!
2Greedy maksheetal
No problem, im glad you learned something. Always remember, patience is key. It is worth more than your $ profit and is more valuable than your entry or exit point.
maksheetal 2Greedy
Thanks for the advice, I agree, I have been taken out soo many times because of the trend going the opposite way only to come back and do as I had thought! I need to ensure I give it more room to develop and enter at the right time, with patience!
maksheetal 2Greedy
Do you always trade the 15 chart?
2Greedy maksheetal
I trade any and all timeframes. If I feel like going out and eating an expensive lunch/dinner then I will start playing with the 5min but usually nothing less than that.
maksheetal 2Greedy
I just looked at it again and saw the whole picture, yes it really dropped!!
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