Short GBPJPY 13 Jul'23
Updated
UK GDP release created the trap
HTF flow aligned and there was a clear liquidity target
HTF location-wise, it made sense for the move to begin now than at another nearby extreme a little bit further off because the UK GDP release marked a major news event trap trigger
On the LTF, I applied the learnings from previous trades and paid attention to the nature of rollover to wait for a pullback following the trap move
Planned the trade and executed with confidence
I have a plan for what kind of obstacles I can expect in the trade's journey to the target as well
HTF flow aligned and there was a clear liquidity target
HTF location-wise, it made sense for the move to begin now than at another nearby extreme a little bit further off because the UK GDP release marked a major news event trap trigger
On the LTF, I applied the learnings from previous trades and paid attention to the nature of rollover to wait for a pullback following the trap move
Planned the trade and executed with confidence
I have a plan for what kind of obstacles I can expect in the trade's journey to the target as well
Trade closed manually
Did not take money out at a fresh obstacle area; respect these points!Had an impulse sell re-entry at higher risk
Bias changed to a buy which I recognized but missed the move for, waiting for a pullback; I had some guess that a pullback was unlikely to occur but I did not market execute, perhaps due to lower confidence
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