Hey everyone,
I thought i would update you on the USDJPY trade….
I have closed the positions: Took me 15 minutes to close them all…The EA was not functioning properly so i had to close them manually.
The reason i closed the trade was the fact that we are going to be down two liquidity pools from tomorrow and i do not want to risk leaving money on the table. Plus the green vector candle is looking to be recoverd and that USDJPY has effectively achieved ADR x3, (2.92)
I have opened shorts now and will be riding the move to the downside or retrace back to the 50 on the 1hr time frame, potentially the 4h 50 ema.
The lesson from this is, regardless whether or not i had anticipated price to go back to the 110.392 zone….I can take advantage of the move to the downside, increase my position size and capitalise on the move down and wait for the support…
Why you need to know this?
If you are ever in a position where it is in your favor and it starts to come back, the practise of not showing any bias to direction will result in you closing trades in good profit and not fall victim to the profitable trade that turned sour approach…
Always pay yourself.
Trade Well My Friends
Tino
