Continuation of transaction from 26th of February 2019…
Now my timing was way better than previously – first entry described here.
USDJPY sell 04-03-2019 ~ OPEN
First entry was too nervous (too hasty) however the downward movement was still possible in my book. After waiting for the new week I’ve added to my position in the same direction on Monday (22:00). Kijun line crossed my initial entry point so that part will be quite hard to breakeven. Second entry isn’t in line with scaling-in principles because initial entry was and still is underwater – let’s see if this “bites me in the ass”.
After adding to my position I’ve relaxed mainly because there was no incentive to do anything – the price fizzled and flattened. I’ve counted on more probable scenario unfolding and was rewarded this time – the overall outcome has come greatly closer to breakeven.
Whole transaction already lasts two weeks and I’d label it as “half-decent” due to properly identifying the reverse but acting hastily. A negative swap further decreases any possible profits however it is not accounted for in the chart below – just summarized pips difference.
I’m slightly worried about combined power of weekend break, Kijun rebound and price resting at S/R line. Anyways the next decision can be made after Monday candle is almost done at ~22:00. Ideally my initial position made on 26th of February could be closed on breakeven thus enabling me to ride wherever the price wants to with the other part of the transaction.