Hi, I'm Chris Capre, founder of 2ndSkiesForex. I'm a verified profitable trader and trading mentor. As a professional trader, I specialize in trading Price Action and the Ichimoku cloud. As a trading mentor, I have one goal: to change the way you think, trade and perform using 18 years of trading experience and cutting edge neuroscience to wire your brain for successful trading. Want to improve your trading edge and mindset? Check out my trading courses here.
Changing tack a bit here, I’m going to be covering a losing trade forex management analysis here to give you an idea about price action, trade management and what I learned from this trade.
In my weekly trade setups commentary, I covered the USDJPY which had just broken range resistance and the ‘big figure’ at 125, suggesting more bullish price action.
I trade more with trend vs. counter-trend and was definitely bullish on this pair, so looking to get long.
Below is a 1hr chart of the pair right before the breakout.
You can clearly see the uptrend movement starting from the bottom left of the chart, which eventually led to a corrective phase (blue box), or a period …... Keep reading