growthbank

[GBPJPY Backtest] Missed sell opportunity of 120+ pips w/ notes

Short
OANDA:GBPJPY   British Pound / Japanese Yen
I briefly analyzed GBPJPY last night and saw that we were in a consolidation zone but in a downtrend. I attempted to take an entry based on the overall downtrend and assumed that the market was going to retrace to the 78.6 on the overall structure and touch the trendline again before going back down. However I missed many of the details of the current market structure. I went back and analyzed the things that I missed plus added some notes to explain why market made that 120+ pip move.

I had the overall direction correct, however I missed key details that the market was showing me before making the trade.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.