khushijain

USDJPY Sell setup

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
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6
USDJPY has touched upside of an important trend-line and provided a good SELL setup here..

Looking to SHORT USDJPY if it breaks the intermediary trend-line - i.e., come below levels of 112.500 - 112.450 decisively..
Comment: Please note, USDJPY is not a SELL as yet - unless it decisively breaks below 112.600 & then we will watch it going below 112.500 on lower time-frames..

At this stage, it looks like, it may have possibility to break out on the upside as well.. so it is important to be profitable rather than holding on to our views...
Trade active: I think it is fair to say the intermediary trend-line has been broken and we can short here.. USDJPY is showing weakness...

However I would be keeping strict SL (the trend-line) itself and proper money management.. with trailing SL as well... to keep booking profits..

Comments

entry?
+1 Reply
khushijain simpson.zac1
@simpson.zac1, around 112.500, after a decisive break of 112.600 on lower time-frames...
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Trailing SL took me out with some profits...

Entering here again with highlighted SL around 120.950

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trade with caution and move Sl to break-even when possible..

There may be a pull back to 112.500 levels again.. if it reverses from those levels, i'll be adding fresh short positions..

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