Reference: Daily candlesticks forming a continuation pattern. Seemed like an opportunity for a short term gain towards the bottom of the flag.
Entry on 4H with the 1236SMA creating the TAZ.
Range ››› Crossover ››› Breakout ADX>25 ››› Pullback ››› Entry
Seems great for a short term gain. Fitted into the strategy, although not textbook and a bit forced.
1% capital risked for potentially 2.4R.
Entry: 79.784 | Stop loss: 80.1 | Target Profit: 79
Psychology and emotions – I felt that I forced it a bit. Could’ve not traded. But would have regretted if price moved in favoured direction. Wow, this psychology part is what really stands between a trader and proper profits.
Well, better to not have traded. But… this is getting confusing and a bit too much. That’s why you always risk a small percentage of capital.
Traded it because I saw the same pattern on the CAD/JPY and thought I missed itBut this one might end up in at least a breakeven however.
Continuation pattern on CAD/JPY reached target price though