alextrickey13
Short

Gearing up for a huge 420 pip leg south on USD/JPY

FX:USDJPY   U.S. Dollar / Japanese Yen
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4
Don't rush into it, let the trade come to you. Waiting for clear deceleration at the top of pattern before looking to take a short. Possibly ready early next week.

Comments

You think the trade will have to run over the weekend if we already in position ?
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alextrickey13 stephanebidias
@stephanebidias, For me were still about 30pips away from where i'd be looking to enter the trade, if your already in short then i'd be looking to hold over the weekend, but understand it can go up a little further before it begins to drop. Bare in mind this is the daily chart so for it to complete the 420pips its likely to take a few weeks or maybe a month so depends on your trading style, there will be multiple 'in and out' type positions during this bear leg but if your more a swing style trader who likes to hold trades for weeks then this would be the time to do so.
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