Elvis.Deonarine
Short

day trading short on USD/JPY

FX:USDJPY   U.S. Dollar/Japanese Yen
1620 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

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

Good Luck Guys
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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
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https://www.youtube.com/watch?v=-DpD6kIL31U
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good research sir Well done
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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
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Is this trade still valid?
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