USDJPY: Price Retraced Back to 61.8

FX:USDJPY   U.S. Dollar / Japanese Yen
593 10 10
A potential sell trade at 103.80 after price broke the uptrend line
Trade active
Trade closed: stop reached
agree, I am in
Where do you see TP? I see the end of bullish gartley at 103.00.
+1 Reply
akyong Eugene_Titov
i'm targeting 103.30 and 102.90
+1 Reply
harryexe akyong
Stop loss 5 pips above 61.8% retracement?
+1 Reply
akyong harryexe
above the recent high. in this case yea
+2 Reply
harryexe akyong
Man, I think I set the stop loss too tight. Got stopped out already. Placed it at 103.860 =[
harryexe harryexe
Okay it's a good stop loss haha...
akyong harryexe
i like to set my stops tight. so if it's wrong, i get out quick. it gives me a higher risk to reward too
harryexe akyong
I see, me too haha. But I'm new to this pair and currencies in general. So I'm still not sure what's the tolerance of a good trade before getting stopped out. Played out really well here though. That said, do you follow up with a revenge trade when the stop loss is hit as above 61.8% retracement incidicates a trend reversal?
akyong harryexe
no. i will wait and re-analyse for another potential setup.
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