Surprise Box trade.
Long 1 (50) GBPJPY @ 4671
Stop @ 4468 (-203)
Target @ 5675 (+1,004)
Looks like a good trade, I have a 7/10 confidence level.
Click above for larger image
As you can see, it would have been a very profitable trade if I had stayed in. I closed out because the market retraced and I wanted to be sure that I could bag some profit, especially given my terrible record up until this point. I made +108 pips on this trade.
There was really no sign that the market was retracing significantly so I should have stayed in, at least until the next push. In addition, if you look at the bottom of the box, there was a very well defined TriScreen trade which I didn’t see at the time, but would have been very profitable with many stacking opportunities.
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