AbhishekHSinghCMT
Short

USDJPY-- FAILED FLAG PATTERN TURNED INTO PROFITABLE TRADE

FX:USDJPY   U.S. Dollar/Japanese Yen
27 0 3
This is how one should be very fast in taking decisions because market kills if you are against or trading in opposite trend to market. Once I realised that 108.98 is the consolidation base for flag pattern & was looking out for upside target 109.25--109.35 but realised that even 1-2 Hrs the pair was struggling to move above 109.10 & I immediately updated to put cost stop loss@108.98 .Post that It was also updated that we should be creative to trade failed pattern as well-which I did as soon as 108.98 was broken downside-as per expectation I was looking out for target zone 108.75--108.78.... USDJPY             went very close to the zone 108.789
Trade active: Boom...we got 1st tranche ....12 pips..Just hit 109.30....look for retracement for joining back in bull camp. enjoy
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
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