I waited for most of the week to trade because markets spiked pretty hard on Sunday night/Monday morning and I was waiting for things to normalize. After a large up-move yesterday, CAD seems to be heading back to it’s bearish direction and JPY is continuing to show signs of strength. It’s not the prettiest pullback (and technically my R:R is 1.49, not 1.5), but I haven’t traded all week and I feel comfortable shorting this especially with my 5 pip buffer
Entry – 75.87
Price came close to triggering at one point shortly after setting my entry order, but didn’t trigger. It danced around all day, for the most part, but stayed right within my risk range. Later in the afternoon, I noticed that the trade had been triggered
| Entry Order Level |
|---|
| 75.87 |
| Stop Loss Level |
| 76.595 |
| Target Level |
| 74.81 |
Exit – 75.114
I kept my eye on the charts after my entry triggered, but not a ton happened. Around 8, though, I noticed that price had dropped pretty significantly and was near 1R. I was invited to go out, so I wanted to lock everything in, so I moved my stop to 1R.
When I got home, I checked again, and price was right near my target, so I got more agressive and started following my stop along the SAR on the 15 min. chart. Right before I went to bed, this pair started basing and the SAR was at a level right above that base. I left it and went to bed. When I woke up the next morning, I saw that it did indeed stop me out, but for a nice 76 pip profit!
