Trade 001 - Sell Japanese Yen
Summary
Execution
Good execution. 2 clean trades.
Set Up
Japanese Yen is very high despite the value lines being way down. We can zoom in and look for a valid top edge.
Chart below is M30 chart.
Trade
On M5 chart belowwe see liquidity being taken out at top edge and valueis dropping even more.
I only sold 1 contract. Probably best to sell at least two. Japanese Yen is not a large dollar amount per tick size.
Also, it would allow me to trade more like a commerical seller, as I could cash out a contract at the price cap level and then re-sell
the second contract again at the massive pull back after price hit the price cap and we get a big reaction to the sort covering rally.
Great that I made money my first trade. The most satisfying part was staying in the trade, even during the massive pull back and all the level 2 buyers around the price cap area.
Happy I did not exit early and bank a smaller profit earlier.
