asiansupermarket
Long

CNHJPY 1hr 1month wedge breakout to the upside

FX_IDC:CNHJPY   OFFSHORE CHINESE YUAN / JAPANESE YEN
Similar to the NZDUSD             breakout play; we have consolidation along the upper edge of the wedge . This is a clear indication of impending breakout to the upside.

When the price hits that first moving average we will move the stop up to break even to lock in potential losses.
Comment: false breakout to the upside stopped me out, still I am willing to hit another trade except it could be short or long depending on the direction.
Trade active: short side breakout
Trade closed: target reached: 17.0000 target reached
Comment: I am going to let this one run; I moved my SL to 17.0226 with an open TP at 16.8
Comment: Closed out completely.


Updated breakout trade.
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