AuraLine

Waiting for USD/JPY 15M to move.

FX:USDJPY   U.S. Dollar/Japanese Yen
65 2 2
After yesterday's spike, price has settled and started to range. Waiting for it to move from its 50 bar range. Two ways of executing this pair of long and short. If watched until breakout - execute at a high volume with tight stops, alternatively, set the orders now and have the stops cover the range of the previous highs and lows.
Comment: Double stopped.
1. Avoid announcements.
2. Avoid patterns that do not have clear levels. During breakout, symmetric triangles such as these often reach several price levels, back and forth.
Trade closed: stop reached
Double stopped.
1. Avoid announcements.
2. Avoid patterns that do not have clear levels. During breakout, symmetric triangles such as these often reach several price levels, back and forth.
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Retrospect.
1. Be there, watch the market. 3 hours later, a pullback was apparent for a 60-pip short.
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