USDJPY-SELL set up. Excellent R/R. (Trade Active)

FX:USDJPY   U.S. Dollar / Japanese Yen

Active trade. Sell @ 109.563 SL=110.75, TP=106.48

A close above 110.62 would invalidate this trade and could indicate a buy. Close above 112 would definitely indicate a bull bias.

FYI - lower charts (4h or lower) still have ST             trend up. More conservative entry would be to wait till break of 109.30 and confirmation of move down. There is a possibility of USDJPY             retesting trend line resistance. If that occurs, a better entry could present itself.
Comment: Ended up combining a ST trade with this LT outlined above. Since the ST trade was focused on a quick move w/ quick profit, it was 9x's the lot size of the LT trade. I exited the ST with a 35+ pip profit.

The LT trade is still active, but i have adjusted my SL (see chart). With the SL adjustment, this trade will be profitable even if my SL is hit.

I will consider adding to my position if it pulls back ~110 after a reversal or bearish candle on 1hr chart. I would still consider this an aggressive entry point with a favorable R/R. I will also add at a more conservative entry which would be following Dn Trend confirmation on 1hr chart.

To clarify: At current price up to 110.55, I will consider opening another ST trade (versus adding to my LT position) following a reversal or bearish candle completion on 1H chart.

Entered another ST short trade. Using profits already gain to make this a "free trade". If trade goes against me and SL is hit, the cumulative trade will still be slightly net positive.
Trade closed manually: Closed trade. Cumulative net neutral trade.

Will reevaluate and wait for a better opportunity.
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