AUD/JPY 1D - Short

Pin bar + retest on important level 78.600.
Trend is short!

Trade fermée: ordre d’arrêt atteint:

Stop Loss.

Commentaire:

What could I have done better?
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1. Placing a SL NOT too tight especially for a high volatile pair like this.
2. Filtering out setups like this where patterns (pin bar etc) occurs following several days of sideways price action.
This because hovering around a level is suggestive of indecision between buyers and sellers. In other words, it’s a stalemate.
January is usually one of the slowest months of the year if not the slowest.

Commentaire:

IMPORTANT (read the angle): the sideways price action is a clear indication that a move in the direction of the preceding trend is extremely likely.