motleifaul

Overextended Correction

Short
motleifaul Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
The yen is difficult to trade. But: No risk no fun. As the recent downward correction is overextended by Fibonacci rules I consider it worth to risk a downward trade.
Trade closed: target reached:
I am taking the first profit now and leave a part of the position short in the market.
Trade active
Trade closed: target reached:
I am closing the deal now taking the remaining profit. I am not aware whether this rise is just a retracement or the end of the decline. So better to cash in an save the thick Mary.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.