Trade 12 – SGD/JPY

ENTRY

short1sgdjpyReference: Daily candlesticks forming a continuation pattern. Seemed like an opportunity for a short term gain towards the bottom of the flag.

short2sgdjpyEntry 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.

Exit

sgdjpy-stoppedWell, 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 itmissed1cadjpymissed2cadjpyrrrJPY (-).pngBut this one might end up in at least a breakeven however.

28/02/2017 (Update)

cadddJPY (-).pngContinuation pattern on CAD/JPY reached target price though

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