The EJ touched my trailing mental stop and I closed all trades. I am not too satisfied with this trade as I let a large profit dwindle to an average profit. I have some secondary signals I use to enter or exit and those signals did tell me to exit when EURJPY failed to pierce 125.50, but I waited too long. Anyway, a profit is still profit. Here are the final closing trades:
EURJPY closed at 124.54, +67 pips, +8.1%
EURUSD closed 1.3363, -17 pips, -2.6%
USDJPY closed 93.19, +37 pips, +4.1%.
Account now up to $240,289.
As it now turns out, I closed at the absolute lows for the session! It’s always a bad idea to jump in just when a support or resistance breaks, as prices usually bounce right back. But the risk also remains that prices could go much lower before bouncing! So, overall, still a good decision to exit when I did.
Liquidity is thin today, so such stop hunts and quick bounces will happen a lot. Such markets make me nervous, and sometimes it is good to stay out. There is a lot of event risk later this week and we should see some good directional moves then. I can’t say in which direction! 😉