Last night (about 7:30 GMT) I sold USDJPY short and got in at 111.99. I noticed on the 1H chart that the MA5 had crossed the MA20 and was already below the MA100. The RSI was below 50. It seemed like a good chance of a down turn.
So I sold short at 111.99 and set a stop loss at 112.16 which is where the MA5 had crossed the MA20. The price bounced around a bit and my stop loss was hit and closed me out.
I got up this morning and saw that in the next hour there was a very nice down turn in price that I missed.
So, did I set my stop loss too low? Did I misinterpret the signs? Any thoughts would help so I can learn something here. The price was down as low as 111.45 in the next hour. Would have been a nice little profit - sigh.
Squid
So I sold short at 111.99 and set a stop loss at 112.16 which is where the MA5 had crossed the MA20. The price bounced around a bit and my stop loss was hit and closed me out.
I got up this morning and saw that in the next hour there was a very nice down turn in price that I missed.
So, did I set my stop loss too low? Did I misinterpret the signs? Any thoughts would help so I can learn something here. The price was down as low as 111.45 in the next hour. Would have been a nice little profit - sigh.
Squid