Last two trade where long EUR/JPY and short USD/NOK but unfortunately things didn't worked as planned and I was forced to close both of this trades at a loss. At one point on my long EUR/JPY trade (see Figure 1) I was -100 pips in red but I wasn't willing to close it because the 138.00 daily support level was holding the price and there was a high probability that we'll get a minor bounce from there.
Figure 1. EUR/JPY 1h Chart

I decided to play it defensively and take a small loss of only -34 pips on this small bounce and wait for better opportunity. On my second trade I decided to take a short position on USD/NOK which due to the broad based dollar strength across the board it didn't worked out. I was expecting another low in the dollar before resuming the trend and USD/NOK was trading at a nice resistance and decided to go short. But unfortunately it went against me and I decided to take a minor loss on the first pull back.
Figure 2. USD/NOK 1h Chart


Best Regards,
Daytrader21
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