NZDJPY Trade Recap 29th June 2023
Pair : NZDJPY Direction : Short Result : +0.5%
Comment:
**Is there anything else I would do differently?**
Price had tagged into the 90% rule of the inner structure and the 1H also closed with a bullish wick which I know from reviewing Marks trade recaps this is a key turning point where price may pull back sharply.
Price had tagged into the 90% rule of the inner structure and the 1H also closed with a bullish wick which I know from reviewing Marks trade recaps this is a key turning point where price may pull back sharply.
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**Pre-Trade**
I was a little hesitant with this position, even though it met the plan and was a position I forecasted that morning having not taken a trade in nearly two months it had affected my ability to execute. I am not putting too much weight on this feeling as I know once I am back in the flow of taking a position on a weekly basis this will dissipate. A little rushed due to having to market order on two accounts.
**During Trade**
This position went straight into profit around 2-3mins after entry, so the management was key as the risk could have been eliminated immediately but I did not want to choke it. I allowed the candle to close on the 15M to see how it would react and once this happened I then decided to move the trade to BE. Was clear-headed and focused on managing the risk.
**Post-Trade**
Very happy with how I managed this position as looking back I was taken much more information into account than I would normally. I was reading the structures better and understanding how to eliminate risk at the right time by focusing on inner structures and rules. This is something I would not normally have done due to focusing on the ‘target’ but this is a positive step forward.