USDJPY Short Fakeout Trade
Updated
USDJPY Short Fakeout Trade
We closed above Previous Day High and Weekly High with a strong momentum driven buy news from the morning then returned below.
Stop Loss 10 pips above the wick: 144.798
Take Profit: 143.983
1. R:R 1:1, 0.5% Risk
2. After reaching TP closing half and moving SL to Breakeven
3. Trailing the rest with market structure on M15 and later H1
Close the loser before hitting full SL if price moves back to the breakout level without follow-through.
Close the winner if a reversal signal forms (e.g., engulfing pattern, pin bar), especially on higher timeframes like H1.
*CB Consumer Confidence later in NY session 4 pm.*
We closed above Previous Day High and Weekly High with a strong momentum driven buy news from the morning then returned below.
Stop Loss 10 pips above the wick: 144.798
Take Profit: 143.983
1. R:R 1:1, 0.5% Risk
2. After reaching TP closing half and moving SL to Breakeven
3. Trailing the rest with market structure on M15 and later H1
Close the loser before hitting full SL if price moves back to the breakout level without follow-through.
Close the winner if a reversal signal forms (e.g., engulfing pattern, pin bar), especially on higher timeframes like H1.
*CB Consumer Confidence later in NY session 4 pm.*
Trade closed manually
Closed manually because price went back to the zone. Closed P&L - 218.16$
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