mhussac
Short

USDJPY: SHORT MEASURED MOVE

FX:USDJPY   U.S. Dollar / Japanese Yen
Trade Setup:
-Measured move from retest of major support / resistance level
-No particular pattern found
-Trendline break

Note: The ideal point to enter thsi trade would have been the break of the trendline as mentioned on the chart

I have decided to enter on the basis of the long wick candle (with the arrow above it)

Trade Management:
- 2 Limit order placed at 100.300
- 2 Target profits ; 1 @ 99.78 Fib Level 1.618 of trendline s/r measured move ;
2nd @ 99.440 Fib Level 2.0 of trendline measured move although I am open to trailing it further down to the 99.20 level
- Same SL for both trades
- Once first TP hit ; SL for second position will go to Break Even

Lets see what happens...
Trade closed: target reached: Trade closed as planned in the trade management
-1st Target hit
-2nd Trade SL moved to B/E
-2nd Trade SL

Overall some nice profit
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