USDJPY
This pair is in a downtrend.
For swing traders, trading opportunity appeared with the bedding of the blue counter uptrend line and a Dark Cloud Cover bearish candlestick formation. A Sell Entry at that point (110.33) with a Stop loss of 36 pips at 110.67, and a Limit of 108 pips at 109.21 was the trade.
Currently, the market is going against our position, but as disciplined experienced Traders, with a clear trading plan, we stick to our trading plan and hold our position, waiting for the market to U-turn and begin too go our way. Where that fails, the trade will be stopped out with a loss of 36 pips. This is not to much to lose.
NOTE: Equity management is the key to success in trading.
NEVER RISK MORE THAN YOU CAN AFFORD TO LOSE!
To your trading success, Fx-Kalapanzy
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