RaynLim

EURJPY - Bearish Shark check-back

FX:EURJPY   유로 / 일본 엔
Like many traders, I have high hopes for this trading setup. I even see this as a trade that will hit its First Target(TP1) even before its counterpart, USDJPY. But I was wrong about that, you can check the link at the bottom.

Don't get upset over this, because a check-back is pretty normal for a Shark Pattern and it's probably because this is on a 4-hourly chart and the USDJPY is on a 1-hourly chart. So it might not be because of the trend trading vs the counter-trend trading setup.

However, once the market touches 129.26(indicated with a blue arrow), I'm going to shift stops to entry and that it because it is a potential level that the market my stop and reverse against me. That's why checking back on the trade with unbias market sentiment is crucial to 1 success in trading. Well, if one fails to remain unbiased in his/her trade, then when the trade is engaged, just leave it alone.

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