4H:
First, i was reminded a valuable lesson, a great risk/reward by itself does not make a great trade. In my opinion, I made a compelling case for shorting USDJPY in "Reconsidering my S.T. - M.T...". Instead of reluctantly entering a long position because there was bearish price action off of key support and favorable r/r, I should have looked instead for the short entry. There were too many signs pointing to USDJPY pushing right through the support.
I'm short now and getting close to my 1st TP. I expect a pull back and will use that as an opportunity to short again. Overall, this move lower could push USDJPY to ~102 - 101 zone before any significant correction and long opportunities. We'll see what happens. Bottom line, I'm playing the short opportunities.
1W:
First, i was reminded a valuable lesson, a great risk/reward by itself does not make a great trade. In my opinion, I made a compelling case for shorting USDJPY in "Reconsidering my S.T. - M.T...". Instead of reluctantly entering a long position because there was bearish price action off of key support and favorable r/r, I should have looked instead for the short entry. There were too many signs pointing to USDJPY pushing right through the support.
I'm short now and getting close to my 1st TP. I expect a pull back and will use that as an opportunity to short again. Overall, this move lower could push USDJPY to ~102 - 101 zone before any significant correction and long opportunities. We'll see what happens. Bottom line, I'm playing the short opportunities.
1W:
Comment:
Didn't quite get the pullback I was looking for. I'm not going to enter at this point. Will wait for a better opportunity.
