Your idea is working well. A question: do you expect this move to your target to be almost un-interrupted? Or punctuated with a reversal or two? I had expected a stall and failed rally before the big decline up until now none has materialized.
Thanks for your question and thanks for viewing the idea. I expect the idea to get to target but I dont think it will go straight there. For example price as I type is in an area of previous support and I normally expect some reaction upwards. If it slices through then it could more or less go down hard. So I expect it to be stubborn around here but I hope I am not shaken out. By the way I was expecting the usdjpy to go to 104.40 to sell but it went straight down and so I meesed the trade
Thank you for responding. By previous support I assume you mean the pink horizontal level? After dropping out of the large 1-2-3-4-5 channel I do expect a snap-back to try resuming that move up. The heavy volume selling in the green circle is abating and the indicators show a market that want to try to rally. IF it goes up I will watch for a chance to short. All the best.
All the best on your short. This is quite a strong plunge so I hope you get the maximum out of it. I am now long anticipating a retracement. Where I live in Alberta Canada winter has not arrived so forecasts of a cold one are not materializing.