constantine_trading
Short

USDJPY - Trend Following Short

FX:USDJPY   U.S. Dollar / Japanese Yen
122 views
6
having the upcoming resistance,
we will short half way down after weakness or signs of reversal (1st target)
and trace further down if the weakness is continuing (2nd target).

This is a straight, plain, simple and stupid trend following technique.

From higher trend to lower trend.

Stay put, keep calm.

Comment: Watch out for inside bars on higher timeframes!
Comment: Entry 110.90 due to signs of reversal
Trade active: 110.90 to 109.90 > 100 pips
>> partially closed half position > return 1%
Comment: If you have not partially closed the trade at target 1,
you might consider moving your stop
either to 110.25 (just before buy/sell level of the minor trend)
or to 110.40 (top of the bar before the outside bar).
Comment: Either taking profits at target 2 or trailing down considering inside/outside bars.
Price might bounce, price might stall, price might fall.
Noone knows...

Comments

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