EverythingForex

CLOSED TRADE: USDJPY: STRONG SELL Retest 125 + Gartley -11 pips

FX:USDJPY   U.S. Dollar/Japanese Yen
233 2 3
This trade was closed as prices have invalidated the Gartley and also have broken through the 125 level. Loss was -11 pips. Oh, well. Can't be right all the time! ;-).
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Bankster
a year ago
may I ask, why do you put a such tiny stop for a long -term short position like you mentioned ? Now it looks like fake out... I think with weak nikkei and weak us, price can't go much higher
Reply
EverythingForex PRO Bankster
a year ago
Stops are personal. Everyone needs to place trades (Stops, entries and profit targets) according to their own trading plan and risk tolerance. When I post on here, if the trade is based on a pattern, then I will post according to the rules of harmonic patterns. One of them being that if prices exceed point X (my definition of "exceed" is close beyond) on class 1 patterns (non-extension patterns), then that pattern is invalid.

But even though THIS trade was invalidated, I am in SHORT on this pair via another trade/pattern I posted about: a bearish crab. Hope you got in on that one. Good luck and thanks for the question.
UPDATE #1:USDJPY: Pre-NFP Analysis - NFP Move : Bearish Crab
+1 Reply
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