Potential short @ 123.96, Stop @ 124.68, Target @ 122.10

May 10, 2016

If sellers push down to 123.96 on EUR/JPY I will likely enter short. This is a basic price action reversal setup. I may change my entry, target, and stop before this trade triggers.

May 11, 2016

Trade active

This trade triggered.

Stop: 124.64
Entry: 123.96
Target: 122.20

May 12, 2016

Trade closed manually

Closing this one out with -23 pips @ 124.21

After that big spike up that reached near my stop, it is becoming clear that sellers are struggling to gain control. Also, the EUR/USD trade I mentioned in yesterdays analysis has triggered:

youtube.com/watch?v=QoheoyeF8_E