Last night the USDJPY charts made a double top pattern and I promptly sold. The odds seemed favourable so I got in at 98.20 with a 50 pip stoploss and 50 pip target I shorted it as it came away from it's second peak.. I was a little cautious as the market had been in a long uptrend but the chances I felt going my way were favourable so I went for it.. unfortunately, my stop got hit earlier today.
I placed another trade.. a short at 90.31 as the price action looked liked it was falling and going south.. however, it is current retracing right now. My stop as you can see is around 90.60 with a target price of 89.95. It's not looking good at the mo but the daily chart is still looking like a short. I may get stopped out but I expect to see the price action to get to 89.00 in the next few days... we'll see.
I sold and it shot up... I was impatient and wanted some trading action and lost 20 pips! Have to be more careful...
