DislikedGood Morning Traders, Here is my first trade of the day USDJPY M5 AB=CD Point B @ 38 Fib of the XA Leg confluence with prior structure my expectation of bullish bias Point C @ 78.6 of the AB Leg with confluence of prior structure....I did consider aggressive C Sell but decided not as it was counter trend to XA Leg Point D was confluence 127 Fib extension of AB Leg and 127 Fib extension BC Leg SL @ 118.00 Round Number TP @ 50 Fib of AB Leg of structure (not by the rules as BE at 38 Fib of AD and TP @ 61 Fib) RR 1 :2.5 Banked 27.4 Fibs (charts below)...Ignored
I promised to take a look on your trade and overall it looks like a good analysis. Regarding your decision to TP @50% of AB, practice reading PA, then you would see that while price showed some indecisiveness it didn't violate your expectation. In fact it came into structure with a big green candle meaning there's a lot of bullish strength. Also that structure had been violated multiple times so it shouldn't be strong.
That's my few cents, Im still learning myself but I think that if you stay humble and continue with this kind of analysis you and your bank account will be happy.
Rise and rise again until lambs become lions