AUDJPY: Quick short trade for the coming week #forex

FX:AUDJPY   Australian Dollar / Japanese Yen
1936 23 32
A possible trade for next week
Minor hourly double top at previous swing high and resistance at 93.05 and 50-days SMA .

Good luck...
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Trading Criteria:
1.Trades are taken in two units
2.First unit would be closed at first target
3.Stop loss is then moved to break-even
4.Second unit would be closed at second target
5) If 90 percent of first target is reached without triggering entry I cancel the trade
6) If 90 percent of first target is reached I move stop loss to breakeven.
7) Remember: Losing is a main part of the game
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This trade should have been a winner.
Casey_Yeo Technician
Surprised that you didn't take it. Wasn't that a triple top after yesterday's gap up?
anish_206 Technician
I guess it IS a winner. It's now 91.77 and still going down . Where's the loss ?
Mates, this is a clear example of over the weekend risk, don't put a pending order late friday, wait for the market to open on monday to open your position.
anish_206 Technician
Thanks for the suggestion. So is this trade closed ? OR ?
This trade is not active in first place , because as i wrote on the title " for the upcoming week".
Technician PRO Technician
The right thing to do now, is to look for a break below 92.30 to confirm a new short position
+1 Reply
anish_206 Technician
Thank you. Will see how it unfolds. :)
Tijmen_K Technician
Thanks you for your reply
Is this trade closed ? It hit 93.10 .
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