Picking up a few Pounds

FX:GBPJPY   British Pound/Japanese Yen
65 0 1
If price gets a bit lower and remains overbought on the 15m it may be a good place to pick up a few Pounds... As for holding a pair too tightly if things head south... Loyalty to any direction usually ends up pretty 'low' on the priority list... Meaning i'll jump back on the short side of this thing pretty quickly if buyers don't start showing up to the party.
Trade active: If you bought where I did than you are sitten on a loss. I see one more opportunity to buy more here at this price before cutting it off if needed. Price will likely find a place to blast up if only for the short term. Using a smaller trade size buys you more time and will make it easier to stomach the volatility.
Comment: I'll admit I didn't cut this one off like I said I would and now has turned into quite a whopper... These kind of mistakes can be expensive but i'm remaining solvent on this one. We are going to see a retracement... this could be the beginning of it now or may delay till next week. On the other hand I take my hat off to something that moves this far this fast, even if I'm stuck on the wrong side. You just have to appreciate the competition sometimes!
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