USD/JPY SHORT - Shooting Star/Rejection of Weekly Level/Trend

5 Şub 2017

Descending Trend line bounce, a gravestone doji created when price tried to react from the weekly level and go back above it, which was a retest but got rejected. The pair is in a descending channel in the process of making a LL.

TP @ 111.55
SL @ 113.187
R/R @ 1.54

6 Şub 2017

Not

SL moved to breakeven. Price made a new low.

7 Şub 2017

Not

Price literally missed TP by 3 pips. This has happened before. Price is heading back upwards, but i believe it will hit the trend line and reverse back down to the downside, so I have moved my SL back to its original position.

7 Şub 2017

Not

Lower trend line was not drawn as snugly as it should have been. If it had been, my TP would have been slightly higher.