Butterfly short 4H/daily

FX:USDJPY   U.S. Dollar / Japanese Yen
176 1
Fade the breakout with a butterfly short

The pair broke a downtrend channel to the upside, see X. This breakout could turn around at 1.272% of X-A.

Entry: 112.29
Stoploss: 113.42 (113 pips)
Target 1: 110.69 (1:1.42)
Target 2: 109.7 (1:2.29)
Target 3: 106.97 (1:4.71)

If the stoploss is too big, downsize you positions!
Trade active
Comment: Target 1 adjusted to 111.24
Comment: Target 1 hit. Adjust stoploss of the remaining positions to breakeven.
Comment: Target 2 reached @ 110.03. Adjust stoploss to 111.24
Trade closed: target reached: Target 1, 2, 1 are hit. Nice trade :D
if you have a dynamic target with the fibonacci retracement tool, then you should adjust your first target to 110.99. That's a 30 pip sacrifice to playing it safe and adjust your stoploss to breakeven.
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