Short EUR/JPY

Quote from riskfreetrading:

The move at 10.23PM was a fake. Now I think the up move is close to over (close an important technical point). I am getting ready to short again once I have a confirmation of the failure. I hope it will take place in the area of 157.95 or 158.15. Then I will feel good about the down move.

Addition: I am now short (11:09PM). I hope it will work! This is likely a failure and beginning of a good down leg (50 pips of so?).
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For those following, I just took a 30 pips profit on fraction of position in area of 157.72. One of my problems is that I can not hold long enough so I take profits on a part, and keep the other part for longer (if there is a rebound, I might re-enter the part I took off).
 
Just to add that I just went short EUR/USD at 158:ish at around 12:20AM March 31. I plan to keep this position during my sleep time in case a selloff takes place in Europe session. Bye everybody.
 
Quote from riskfreetrading:

Just to add that I just went short EUR/USD at 158:ish at around 12:20AM March 31. I plan to keep this position during my sleep time in case a selloff takes place in Europe session. Bye everybody.
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ES now underwater by 2. Let's see if this continues. Should have held my original position.
 
I believe your thinking is solid, riskfreetrading, but your timing is a bit early. No doubt a Euro correction, retrace, whatever is LONG overdue. But the market is just holding it up at this point and until you see signs of that abating, I'd be worried being short.
 
Quote from riskfreetrading:

At around 11.48AM, I just went short EUR/JPY at around 157.90.
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That was a double top you just sold, high R:R. Also, ES is at MR1, so it should see some consolidating here and U/J will fade lower pulling E/J down as well. Equities are going higher so pay attention to price action, as, this is a counter-trend trade.
 
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