USDJPY Bear Flag / Pennant / Continuation Pattern
I am a new Forex trader, I have spent many years in the stock market and have been studying and doing demos for years. I do not need to buy a 'system' or 'indicator' thanks. That being said , advice is welcome as is criticism if well intended. I do not give investment advice, I am not a professional. Trade at your own risk. I am already fully retired and this is my hobby and does not contribute to my lifestyle.
I already freed myself. May you be free as well.
The 'pole' of the flag is 78 pips, looking for 70 of those in this short trade. I am posting a little late, my first published idea. I already bought in at 113.257 for .25 lot or 25k, which breaks down to $2.25 per pip and risk of $56 for profit of $157 . This is about .5% of my initial account. I am also a very lucky man. Best wishes to you.
I already freed myself. May you be free as well.
The 'pole' of the flag is 78 pips, looking for 70 of those in this short trade. I am posting a little late, my first published idea. I already bought in at 113.257 for .25 lot or 25k, which breaks down to $2.25 per pip and risk of $56 for profit of $157 . This is about .5% of my initial account. I am also a very lucky man. Best wishes to you.
Komen:
Stoploss still in place, price turning back down.
Komen:
Testing my patience, however, "Trade the Plan". Still here.
Komen:
Trade failed. It did not do as expected. Did not meet profit target or stop loss, Closing here at break even to re-evaluate conditions. Thank you for playing the game. See you next time.
Komen:
Because I ca break even without a loss and seek a better trade, time wasted not withstanding. Thanks
Komen:
After action report : I made a good choice, closing at break even. The trade would have stopped out and just a couple pips above my stop. That would have been a lesson. Although my profit target was eventually hit, the reason for the trade became invalid when the bear flag/pennant break below returned above and closed a candle above my entry. HAGO.