InsideMarket
Short

Trade #8 USDJPY - The dollar correction: second attempt.

FX:USDJPY   U.S. Dollar/Japanese Yen
Another sell trying to trade the correction of the dollar. The entry level is the confluence of retracement of the downward impulse and the fibonacci extension its ABC correction. It gives a nice risk/reward and fits in the current behaviour of USDJPY             .

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*For now on I'll reveal the money management of my trades. There are two major targets: the first one is at least double of the target two (the farthest). The proportion is 2/1 minimum.
UPDATE: Position has been closed. Target hit before entry.
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Can you re-post when it hits your entry requirements? That will be most helpful and useful. Thanks!
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Sure!
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