Wednesday, December 12, 2012

USDJPY Channel Short USDJPY Channel Short Trade

This setup is in place from past few sessions. Previous post [here].

Price is moving in a descending channel from past few sessions. Price movement looks rangy.

Currently price is hitting channel's upper trendline and is backing off. 

I went short at current market price at 82.62 with a stop above 7-Dec highs. 

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