MikePips

Channel Breakout, Triangle Breakout,and New Lower Low

Short
MikePips Updated   
FX:USDJPY   U.S. Dollar / Japanese Yen
Triangle break and Channel break. Shorting to the 1.272 Extension.Second entry oppurtunity if retrace to .786 , .618, or 0.50. Stop loss behind 0.50 retracement. Take profit just before the 1.272 extension. New Lower Low
Trade active:
Entered short at 107.216
Trade closed: stop reached
Comment:
Retraced to .382 may keep going up
Comment:
Shorted the pair after being stopped out . Shorted at 107.215
Trade closed manually:
Manually closed short. I was stopped out on original entry but still managed to take some pips shorting this pair.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.