day trading short on USD/JPY

FX:USDJPY   U.S. Dollar / Japanese Yen
1622 12 39
The trade idea is based on Structure trading
Trade active: For those who did not get the entry or possibly looking for an entry sell position, there are 2 valid opportunities.

Support & Resistance
1. look for a double top on the hourly chart and possibly an exhaustion or harami candle.
Place Sell stop at this point., with Stop Loss at a 127% fib extension of the 2 bearish candles

Trend Continuation
2. Place Sell Limit Order at 61.8% retracement of the 2 bearish candles.
Place Stop Loss at 127% extension of the 2 bearish candles

There are news events early in trading week look out for gap in price. see link for news events http://www.fxstreet.com/economic-calendar

Good luck in trading Guys
Trade closed manually: Manualy close TP #1
@ 105.80 Safe Exit
Comment: see chart
Comment: Possible counter trend Not for the risk averse trader

RSI Oversold
Upcoming minor news
Success rate 50 %
See Chart and Ant comment for Aggressive Counter Trend Gartly
Safe exit
Graphical Explanation of trade comments.
Please Review and Comment

Good Luck Guys
This trade is positively correlated with S&P 500 which also seems ready for a turnaround, so overall it looks like a trade with good timing and a good risk-reward ratio
good research sir Well done
Nice Video I Guess you are in he trade also. i would appreciate it if you can share any insight on how you are managing your exit Strategy. Thanks for the video it gives me more confidence in my analysis
Is this trade still valid?
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