Markalf

Trend Continuation

Short
Markalf Updated   
FOREXCOM:USDJPY   U.S. Dollar / Japanese Yen
This pair has been in a ranging downward trend for over 6 months.
It has also recently tested the down trend line and formed a shooting star.
This gives us an obvious Stop and Take profit.
In the case of this trade I will not use multiple take profits.

If you have an questions please don't hesitate to ask.

Happy Trading.
Trade closed: stop reached:
Stop was a little bit tight. Seems this pair is starting to range side ways. Or slowly reversing.

For me this trading idea is still valid I will wait for a day and see where price closes at end of market.
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.