USD/JPY Short trade

[Masterchanger]

SLD 100,000 USD USD.JPY Cash 90.006 JPY IDEALPRO FEB 15 16:45:24
SLD 100,000 USD USD.JPY Cash 90.025 JPY IDEALPRO FEB 15 17:56:49


We'll see If I can hold out for 88.000 level

 

[Gcapman]

Not after those Barclays results and DB upgrade....

Massive rally in the works....

 

[Masterchanger]

I know doesn't look like its gonna work, oh well,
hindsight should have taken profit when shorterm trend ended.

 

[Gcapman]

USDJPY is still in a downtrend technically

But I think that the good news will reverse the trend slowly as the trading session rolls on.........

 

[Masterchanger]

I'm out with a small profit and you were right it looked like it might flip over but never did and looks stronger than ever.

 

[Gcapman]

It is now starting to hit some resiz.....

I'm looking to build a large short swing trade going into the next Asia/London trading session........

 

[Gcapman]

Suicide to short all this bullishness,,,,,,

 

[Masterchanger]

SLD 200,000 USD USD.JPY Cash 90.140 JPY IDEALPRO 09:20:28

 

[Ivanovich]

Right, 'cause when it doesn't work the first time, it's gotta work the second!

 

[Masterchanger]

Good statement, not sure where your coming from though.

The shortterm trend is up and longterm down, there are opportunities for contertrend shortterm trades and I decided to take it. Not being bull headed or stubborn just didn't see a bullish setup I could take.

Seems to be working but the question is will I manage the trade better than I did on the previous one.

I discussed that prior trade on this thread

http://www.elitetrader.com/vb/showthread.php?s=&postid=2733771#post2733771