Hello guys! Today, I took two trades—both ‘bearish’ to GBP/JPY. My first trade made 10 pips while my second trade 54 pips. Not bad?
Original Trade Setup:
Stop loss: 146.08 moved to 145.23
Take profit: 144.33
Stop loss: 145.89
Take Profit: 143.40
I shorted GBP/JPY at 145.33 after I spotted a regular bearish divergence both on 1-hour and 30-minute charts.
I hope I was not imagining things!
To cut this long story short, GBP/JPY went along my way – without me watching it. And when I peeped in later, I saw the glowing 55 pips in my account. Oops, it wasn’t the end yet. I didn’t want to close my trade until I reached my take profit so I decided to move my stop loss at 145.23. Ha! My bad luck slammed in when my second stop loss was hit. Oh well, I was kicked out of the market with 10 pips. *not bad*
My second trade was patterned on my first trade. I re-entered at 144.89 targeting 143.40. But same behavior as last week, I closed my trade rather early. So I missed another opportunity to swim in pips. Ha!
View my trading account on mt4pips.comShare