GBPJPY Cypher short Short

FX:GBPJPY60

British Pound/Japanese YenFXCM

Description

⋅ Jan 4, 2018 2:57 PM

At market now. Needed to make sure it is within the 100 max pip rule.

Let the year begin.

Had a beast of a holiday.

Trade active

⋅ Jan 9, 2018 1:22 PM

T1 hit.

Nice turn of events. Thought my first trade of the year was going to be a loser but gbpjpy changed its mind :)

Trade closed: target reached

⋅ Jan 10, 2018 9:02 AM

This is an tremendous start to the year. The complete opposite of last year :)))))

A string of winners means 1 thing only: the drawdown is coming.

Comments

Ahmxd94

⋅ Jan 9, 2018 1:59 PM

smashed it bro, I saw this trade but the stop loss size really wasn't appealing haha.

LewisWNicolson

⋅ Jan 9, 2018 2:01 PM

@Ahmxd94, Yeh, it took its time haha :) I had to let it run up a little further from normal entries because it wasnt within my 100 pip limit rule.

Ahmxd94

⋅ Jan 9, 2018 2:08 PM

@LewisisNude, ah yeah I saw, I've noticed that on the larger time frames patterns tend to need more room on the sl but I waited for smaller pattern at the D leg of the same pattern you've got up there and noticed a bearish bat (not a fan tbh and it hit my sl) since they aren't as likely as cyphers.

Your T2 seems pretty likely since price is eventually going to revert back to the 200ema :P

LewisWNicolson

⋅ Jan 9, 2018 2:13 PM

@Ahmxd94, Yeh, I only use conventional targets of 38.2% & 61.8%. So fingers crossed it heads on down so i get a good start to the year :)