USD/JPY AB=CD Confluence trade
here we see a trendline break followed by a retrace to the 50/618 fib level where we have a large confluence of resitance including a resistance level, a trendline and all 3 moving averages.
Trade closed: stop reached
Stop loss hit, small loss was taken. This has me curious as to maybe i moved my stop down too soon, and whether i should have left my initial stop at the prior high (106.959) and let the trade play out. Only time will tell.
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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.