USDJPY 340PIP SHORT!

Hello traders, today we have ourselves a lovely USDJPY short.
This trade is currently within 10 pips of entry, I still believe there will be a head & shoulders formation however we may miss our entry on this trade by a minor amount of pips.

Confluences:

• Structure Level
  
• Head & Shoulders formation
  
• USD Weakness & JPY Strength creating resistance
  

With this trade we have ourselves a lovely R:R (Risk:Reward) of 1:11.3! This is a insane ration and definitely not one to miss.
We have a 30 pip stop loss for our trade which is above the previous structure level.

I have set 2 Take profit zones for this trade,
The first profit taking area is at 180 pips at 109.13
Our second profit taking area is at 340 pips at 107.5

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Đóng lệnh: dừng lỗ:

Stop loss hit
We have failed with our first scenario and scenario B is where double top is formed and then reversal. Reentry at 111.6