GPBJPY Short scalp

28 ม.ค. 2019

I am going to try a high risk trade here. Looks like a small parabolic move up which seems to be ending now. Made a break up from that wedge but looks like the breakout is already failing. I am going to close 30% around the yellow, another 30% around the target and i will let 40% run. As soon as we brake the support line of the wedge, i will lower the stop towards the entry.


Previous analysis:

28 ม.ค. 2019

บันทึกช่วยจำ

Trade went great from the start, but the drop never got an acceleration. Now it seems a channel has been formed and slowly breaking up. So i am moving the stop to entry now, just in case. Because the rally has been quite strong, could be it's not over yet.

29 ม.ค. 2019

บันทึกช่วยจำ

As described above, looked like it wanted to move back up and it did, but only a small move. Got very close to the entry stop though.

Now its important, we can move up again if we stay above today's low. But if that green support breaks, we should see a quick dump happen towards the yellow target. I have removed the previous yellow target for partial profit, because i assume if that support breaks, it will dump. So i am closing half there and keeping the rest with a tight stop.

29 ม.ค. 2019

บันทึกช่วยจำ

I am closing 30% here now and let the rest run with stop at entry. This is the yellow circle target i posted at the original analysis. Which i said i would take a away in the previous update, but i see something else that could make it bounce a little.

29 ม.ค. 2019

บันทึกช่วยจำ

It could make a right shoulder for an H&S

30 ม.ค. 2019

บันทึกช่วยจำ

Right shoulder getting a bit high, but as long as it stays below that red zone, it can play out. I am going to keep stop at entry now, got my 30% profit at the low already, so still worth risking the rest for me.
So we want to see that small wedge play out here to form the right shoulder

31 ม.ค. 2019

บันทึกช่วยจำ

The H&S has been formed, neckline broke, but no follow through yet. So could be something else is going on. I am moving stop to the red zone to ensure more profits here. If we start to drop again, i will move the stop along with it.