Hi all,
I was updating my journal this morning and filling in some of the losing trades I made this week. When filling in the 'what went wrong' field I couldn't really think of much other than 'whipsaw'.
The trades were all long JPY trades that I took on the daily charts. I entered on Tuesday am (GMT) at about 7 am. They were:
CAD/JPY
EUR/JPY
CHF/JPY
Now in retrospect I can see that there was a correlation between these trades and taking so many positions in the direction of one currency is not something I will do again. However, that aside what's bugging me is why JPY reversed so dramatically yesterday and stopped out all my trades.
I didn't really see any news directly affecting JPY and it all happened during the UK/EU/US session.
Can someone please help me understand what I missed so I can hopefully learn something from these trades? My entry signal was a bearish candle (Monday) in a downward channel that signalled a short trade for the week.
I was updating my journal this morning and filling in some of the losing trades I made this week. When filling in the 'what went wrong' field I couldn't really think of much other than 'whipsaw'.
The trades were all long JPY trades that I took on the daily charts. I entered on Tuesday am (GMT) at about 7 am. They were:
CAD/JPY
EUR/JPY
CHF/JPY
Now in retrospect I can see that there was a correlation between these trades and taking so many positions in the direction of one currency is not something I will do again. However, that aside what's bugging me is why JPY reversed so dramatically yesterday and stopped out all my trades.
I didn't really see any news directly affecting JPY and it all happened during the UK/EU/US session.
Can someone please help me understand what I missed so I can hopefully learn something from these trades? My entry signal was a bearish candle (Monday) in a downward channel that signalled a short trade for the week.
Anything can happen.