JPY Short from a higher point pour OANDA:USDJPY par ForexStoryteller

JPY Short from a higher point

Making a staircase pattern inside a fairly tight channel. Looking a bit back there is a long trend line and it looks like the stairs are made by various other trend lines around the same line, with some eager early selling. Entry lines up around 1.312, the peak of the most recent highs. 5 minutes chart shows the stair levels and where they may be made. 4 steps, maybe a stop run but looking to enter at the top and fall down the stairs 😂

Note

1.3128 placing a short limit. Just under the last peak, hedge at 1.314

Note

Hedge at 1.315, give some room, 22 pips risk

Note

Major trend line acknowledged

Transaction en cours

Limit reached

Trade fermée: ordre d’arrêt atteint

Hedged

Transaction en cours

Buy stop closed, 7.3 gained, new hedge placed, looking for a retest around 1.318 to close the sell

Note

New hedge is placed at 1.3175

Note

Additional sell added at 1.3158

Trade fermée: ordre d’arrêt atteint

Hedged again. Time for a break.....

Note

Setting buys to take profit at 132.4, double sell and hedge protection at 1.328, looking for reaction from the 1.324 level to come back to 1.315

Transaction en cours

Buys closed for a net 127.7 pip gain (double buys) Double sell in place with hedge set above

Trade fermée: ordre d’arrêt atteint

Hedged again, I'm done for a bit.....

Trade fermée manuellement

Made some mistakes in the process of this trade, trading on the hourly, trying to analyze like a scalp, and broke rules that prevent this very situation.

Trade completely flattened to prevent further damage to the account.

Net loss of 310 pips, not going to trade like this again :)

ForexStoryteller

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par ForexStoryteller

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