MrVolcano
Short

FX00087 - USDJPY - D1 - Sell at EMA50

FX:USDJPY   U.S. Dollar / Japanese Yen
31 0 4
Price appears to be selling off nicely on touches of the EMA50. So I'm placing a SELL order at 110.00 (VBRN). SL: 110.85 which has previously acted as support. I think that this SL is very generous, Actually 110.50 should be OK but I don't want to get stopped out.

TP above previous lows @ 106.5.
Trade closed: stop reached: Entered this trade too early. It was a further 9 days before this pullback completed and the bears were off again.

Could have set the SL behind the previous High to avoid getting stopped out. However, more importantly, waiting for a touch of the 50EMA on it's own wasn't a good enough signal and I should have waited for confluence. In this case either closing above the upper BB or a touch of previous S/R line would have yielded better results and a tighter SL, thereby providing a better R/R.
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