AbhishekHSinghCMT

USDJPY- How trendline came as lifeguard

FX:USDJPY   U.S. Dollar / Japanese Yen
94 4 6
Trendline running from W came as lifeguard -once it got resistance in the zone 108.25--108.40. I took short on opening candlestick @108.14 for previous low targets of 107.65...we shall exit here our long call as per previous update.
Comment: sorry for the typo error.....short call taken@108.14 exited at previous low range 107.65--107.75.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
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Sorry for all typo errors
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In previous update buy setup ...I was very clear that If UJ goes above 108.50 then only I will take long....As trader you have keep your eyes open. if you would have extended the trendline from W...This morning UJ got resistance exactly on the trendline- once bearish candle was over --I took short with recent high as stop & booked at previous lows--This is risk manegement. Regards
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If you don't mind me asking, what do you ever mean by "lifeguard" Trendline?
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Sounds about right! this was my plan as well:) I already took profit from 108 to 107.9 - now I will maybe re-enter Or wait...
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