I entered this trade after the 2nd red candle had pulled back from it's low thinking that it had already broken the bottom of the previous candle & should continue back down. The FOMC statement was released after I entered the trade and the price continued up, hitting my SL. The setup appeared to be good at the time, but not sure if you would call it "smooth". Will be interested to see if the price continues down as originally thought or if whatever fundamentals are in play push the USD higher or JPY lower.
Sydney time 08:40 26/04 - going to try this one again on a pending order (just assuming I wasn't stopped out...)
Another thought: I would still be in the trade if I used a 50 pip SL. Actual was about 37 based on previous highs. Would have worked in this case, but time will tell if it would have resulted in a larger loss or a profit...
Sydney time 08:40 26/04 - going to try this one again on a pending order (just assuming I wasn't stopped out...)
Another thought: I would still be in the trade if I used a 50 pip SL. Actual was about 37 based on previous highs. Would have worked in this case, but time will tell if it would have resulted in a larger loss or a profit...
Still learning - No guarantees...