[This week's trade recap] GBP/JPY November 1, 2021 - November 5, 2021 Results
1 win 1 loss, +63.9 pips. It was decent.
1-hour chart
4-hour chart
【Market Result ①】
Entry (buy) 11/1 17:00 GBP/JPN 155.977
Exit 11/2 2:00 GBP/JPN 155.827
Profit/Loss -15.0 pips
I considered 156.00 as a resistance line, and it hit exactly there. Entered long. A cross occurred and I thought it was solid, so I slept, but in the morning the close price hit the exit value (-15 pips) and was stopped out.
This is good.
【Market Result ②】
Entry (sell) 11/4 16:13 GBP/JPN 155.733
Exit 11/4 20:00 GBP/JPN 154.944
Profit/Loss +78.9 pips
The 1-hour chart at 10:00 on 11/4 showed a MA200 wick. After that, 156.00 turned into support/resistance and broke downward. It was a follow-up entry, but the downward momentum intensified into a sharp drop. The price touched the recent low around 155.00 with a limit order and took profits.
Nice!
For the continuation, this week's overall assessment and market view can be found in
FX Trading Diary - Earning with the Ideya Technique
EA that enters at the closing price, “OwarineDeEntry”