USDJPY long trade on 12/11/24
Pre Analysis:
- Trade based on H4 timeframe, there was trend developing on this pair. Upon pullback or discount been offered, I then interested to take this trade for a buy.
- Watchlist: Buy (USDJPY/ CADJPY)
- Strength meter
Entry:
- Entry time 5:54pm
- Immediate strength meter:
Post Analysis:
- I prepared well for this trade, however after I was shaky as the trade not launch immediately. It only launch during New York session.
- I was about 50-50 on this trade as it didn't launch immediately. Lucky I hold on.
- Exit was bad, as only able to book 1.2R only.
- Trade went for 2R on this trading day.
- I will opted to target 2R profit as my recovery plan to get my account back at initial balance.
- If my account recover, will think to change profit taking plan into ride on profits.
Update (16/11/24):
- Trade able to reach max profits of 7R. Price reach as high as 156.751