Short

USDJPY Short 1.4:1 RR

Updated

Clean trade that we are likely to push down from. Early exit line in the sand is quite pronounced. Will see how it goes.

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Pullback in the works.

Trade active

In.

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Ideally we get a good 15M close in 4 minutes.

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We closed below line in the sand. So still holding.

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Now 4M needs to follow suit.

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We're likely to close early at this 4M close.

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Giving it a few more minutes, although early close is extremely likely at this point.

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Okay close, hopefully it will transfer into 15M good closure.

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We closed back below line in the sand. Now 15M needs to confirm that.

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Ideally we get a 1M move as follows (green brush). We need a 1M change of market structure and fast EMAs cross to better confirm the overall move to the downside. Right now it's a bit tight.

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15M seems to be forming a good candle.

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On 1M we are getting an aforementioned break and a cross. Now hopefully it follows.

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Line in the sand changed. Break below it = moving stop.

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Plausible 15M close.

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At the same time pretty bad 4M close. At this point if we get a high-volume close against us - we'll exit early.

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Getting that movement in our favor.

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Very good 4M close. Now we want it to continue.

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Not good price action after such a good candle, but that is likely due to volume as it haven't yet picked up. Holding.

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If we close above this zone - we'll be out I think regardless of volume. Not ideal price action, unfortunately.

Trade closed manually

Out. -0.48

Lightwork_

Lightwork Trading

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