USDJPY Sell Position
Trade Journal Entry
USDJPY Sell
Time Frame:
- Daily (FVG Identification)
- 4-hour (Entry Signal)
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1. Trend Confirmation:
Identified a Break of Structure (BOS) on USDJPY by breaking the previous low at 143.43, indicating a continuation in market sentiment and confirming a bearish trend. Noted as well that price is just below a trendline, providing another resistance for price to break.
2. Fair Value Gap (FVG):
On the daily chart, noted a Fair Value Gap between 145.00 and 144.25. This gap is a potential reversal zone where the price has revisited, providing a trading opportunity.
3. Entry Signal
On the 4-hour chart, an engulfing bearish candle formed after touching the identified FVG zone. This pattern aligns with the bearish trend and indicates a potential continuation of the downtrend.
4. Trade Execution
Entry Price: 143.58
Trailing SL: 144.70 (above trendline)
TP1: 140.00-140.5 (previous low)
TP2: 135.00 (1.618 Fibonacci)
Risk-Reward Ratio (RRR): 1:3 - 1:7.5
Monitoring: Check-in daily at 8 AM & 8 PM
5. Outcome:
Exit Price:
Profit/Loss: pips
Summary: The trade is based on a bearish trend confirmed by down trendline & the break of the previous low supported by the bearish engulfing pattern within the daily FVG.
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Linarto Wijaya
USDJPY Sell
Time Frame:
- Daily (FVG Identification)
- 4-hour (Entry Signal)
---
1. Trend Confirmation:
Identified a Break of Structure (BOS) on USDJPY by breaking the previous low at 143.43, indicating a continuation in market sentiment and confirming a bearish trend. Noted as well that price is just below a trendline, providing another resistance for price to break.
2. Fair Value Gap (FVG):
On the daily chart, noted a Fair Value Gap between 145.00 and 144.25. This gap is a potential reversal zone where the price has revisited, providing a trading opportunity.
3. Entry Signal
On the 4-hour chart, an engulfing bearish candle formed after touching the identified FVG zone. This pattern aligns with the bearish trend and indicates a potential continuation of the downtrend.
4. Trade Execution
Entry Price: 143.58
Trailing SL: 144.70 (above trendline)
TP1: 140.00-140.5 (previous low)
TP2: 135.00 (1.618 Fibonacci)
Risk-Reward Ratio (RRR): 1:3 - 1:7.5
Monitoring: Check-in daily at 8 AM & 8 PM
5. Outcome:
Exit Price:
Profit/Loss: pips
Summary: The trade is based on a bearish trend confirmed by down trendline & the break of the previous low supported by the bearish engulfing pattern within the daily FVG.
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Linarto Wijaya
Trade active
ActivatedTrade closed: stop reached
SL touched, triggering 110 pip loss.
Lesson:
The FVG used is on the premium side (above 50%) of the trend. There's another FVG on the discount side (below 50%) of the trend, between 150.80 - 152.60. We'll be expecting the price to retrace to this area.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.