Initiated a short positions on gbpjpy...but remember we still have a long position from 177.90, we have locked profits by moving trailing SL to 190.90, locking in 1300 pips. WHY have we taken a short position whilst we have a long position? Reason being that price has been struggling around the 195 zone..looks like market might reverse, so we dont want to miss a good down move because we have a long position...we take advantage of both...ITS not hedging? There will be 2 scenarios..either price continues up and breaks 195, so we still stay long or price reverses and drops, we still take advantage of that. I have an article on this concept https://joetradingplace.wordpress.co...same-currency/
https://joetradingplace.wordpress.co...same-currency/
https://joetradingplace.wordpress.co...same-currency/