USDJPY:Wanting to make a short pullback trade below resistance

Short

U.S. Dollar / Japanese Yen (FX:USDJPY)

Updated

FX:USDJPY U.S. Dollar / Japanese Yen

will be waiting for a stophunt on USDJPY, then trading when the price drops below resistance line and 30min 50-SMA line for confirmation. Will not take the trade if I don't see the stophunt or the retest of the line after the stophunt and then price below 50-SMA on the 30min chart.

Comment:

I will put my stop loss a tat above the highs of the stop hunt, and if that puts my risk to reward below 1.5, then I will not take the trade. Also, I will close half of my position if it reaches a tat above the current previous lows

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