GBPJPY sadly hit SL yesterday, looking back at this trade and trying to learn from it moving forward I placed the stop loss far too tight on this move.
The stop loss should have been placed above the previous 4H high and well inside the ascending trendline, yes doing this our RR ratio wouldn't have been as great however we would have not been stopped out and we would currently be in 140pips (7% profit).
Moving forward I will be using a wider stop loss as well as a buffer to help this from happening again,
Lesson learned now onto the next trade.
The stop loss should have been placed above the previous 4H high and well inside the ascending trendline, yes doing this our RR ratio wouldn't have been as great however we would have not been stopped out and we would currently be in 140pips (7% profit).
Moving forward I will be using a wider stop loss as well as a buffer to help this from happening again,
Lesson learned now onto the next trade.