Short 1 lot (800 units) GBPJPY @ 5724
Stop @ 5750 (-26 pips)
Target @ 5698 (+26 pips)
Confidence Level: 5/10
Reasons to take trade:
- Bounce off S1 pivot
- Bounce off former support on 15 min chart
- Hit 50% Fibo retracement on 1 hour chart
- Key S/R level on 1 hour chart
Click above for larger image
Got stopped out as price ran through the level.
Click above for larger image
One sign that I should have paid attention to was that price went sidewards on the 1 minute chart. My instincts told me to exit at a +5 pip profit, but I didn’t.
I got stopped out at 5750 for a -26 pips loss.
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