GJ Breakout trade, Asian session

5 thg 12, 2024

Today's trade was a GJ short, in the Asian session at approx 00:30. The Price broke out of the range I set up and took entry on Close with SL above the breakout candle. However, before entering trade, I knew it was more of a risky trade with a lower probability of winning. When you look left for the target, there are no clear targets to aim for. The first target was right near the entry, but also wicked down further into the 2nd target. As a result not allowing for a clean set up. As the trade could have easily reversed in the other direction which it did after a while. Prior to entering the target, I knew I had to watch it closely and be ready to exit the trade at any point, as it may wick down into target range, but also reverse back up, as when you look left that is what occurred as well. As a result, this trade did not hit my TP, but had to be managed and closed with profit earlier. Always have to remind yourself markets repeat themself, but can also be unpredictable, better to take a small profit and survive for the next day. This is for education purposes only, not financial advice.