Trade 29 – EUR/JPY

Entry

t29.pngReference on Daily Long term trend has switched up. Previous impulse wave was bullish. Correction ended at former resistance turned support. Could’ve entered earlier obviously. Some mistakes were made as mentioned.

TRADE29EURJPY.pngEntry on 4H Limit order triggered at resistance turned support. Added confluence by the TL and 30/150 SMA.

1% capital risked for potentially 4.7R.

Entry: 121.3 | Stop loss: 119.9 | Target Profit: 128

Trade Plan: Once price hit the resistance (at swing high of flag) shift stop loss to break even and standby for break out. If failure, SL waiting at break even. Could look to add into the positions of it’s winning and there’s opportunity. Similar trade to the CHF/JPY.

Psychology and emotions – At least I’ve gotten on board this pair. No more FOMO which was present before. But good job on waiting for price to come to desired level instead of chasing the markets.

Exit

download (1).pngStopped out. Limit order and entering without confirmation killed you again didn’t it.

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