-15 pips

The was a scalping session that should have only included the first trade. The second trade was forced. Based on my focus and energy level at the time, I should not have traded at that particular point.

Part of the mistake of trading was thinking I could cut my first loss by several pips.

Look closely for the entries and exits on the 1 minute chart. 1st a short, then a long

 

 

GBP/JPY

Using a couple horizontal and diagonal lines, I took a scalp for about +5 pips, in the area of the red rectangle.

Notice there is was a head & shoulders type formation which could have helped in planning another scalp, if one were inclined. 20 pips was available.

 

GBP/JPY

+13 pips (This was a 5 minute chart)

Sometimes, when I see a classic candlestick pattern, such as an “evening star”, in the middle of nowhere, I look for a quick scalp in the opposite direction of what the classic candlestick pattern suggests.

In this case, I actually expected the price to continue north, even though there was a FIB level in the way. Even if it doesn’t, we can take a scalpers profit. The area of the rectangle is where I took the trade.