USDJPY Trend Continuation Opportunity Long into Support

FX:USDJPY   U.S. Dollar / Japanese Yen
After creating new structure highs last week, the USDJPY             is now putting in an outside return back into previous structure setting up a decent looking trend continuation opportunity. I yet have a reason to get long per my rules of engagement, but I will certainly be keeping a very close eye on this setup as the risk to reward is a no brainer for me with stops beneath previous structure support and targets as far up as our previous structure highs.

If any of you guys are around at 10:15am NY time I'm doing an interview with Dale Pinkert and may be reviewing this trade if I end up getting involved http://www.fxstreet.com/webinars/live-analysis/

Akil Stokes
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This month I havn't seen ur profit yet,
Why you think you can help people for profit.
Or this called drawdown?
+1 Reply
Akil_Stokes Iamnotapredictor
Correct this is called a drawdown and it happens to every trader. I typically have 2-3 rough months a year that end in drawdown and May was one of them.
+1 Reply
riskmode Akil_Stokes
This trade went up a decent amount in the beginning. Wasn't this a trade you were able to move your stop to break even on?
+1 Reply
no i was not able to move stops to breakeven on this trade. The move that I needed to happen in order to do so came during the night so i was unable to actively manage it.
Akil_Stokes Iamnotapredictor
I'm not sure if you saw my latest video, but the end of last week and this week that just ended went well, so hopefully that period of drawdown is over. Another will come, but as long as you're making consistent profits inbetween they're pretty easy to absorb. here's the link to the video https://www.youtube.com/watch?v=O_wimPjw4Lg
Hi, Akil. Did you take this trade?
+1 Reply
-1 Reply
No_more_Post Akil_Stokes
Akil_Stokes No_more_Post
2618 on the 15 at that level if you go down that far
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