The profits were hit but again, I did not get the entry on it so did not realize any profits from it.
The completed that I took SHORTS on and are still holding (see Related Ideas: "UPDATE #3:USDJPY: TP1 & TP2 Hit (+171 pips). Still MORE?") 70% SHORT positions on is continuing to pay off now yielding another +130 pips profit in addition to the +171 pips from earlier. I will look to close those SHORT positions upon the completion of the .
MY TRADING PLAN
At this point, I will be waiting for prices to reach the D point of the and will watch for a good entry LONG. Bear in mind that overall, I am on this pair as per my LONG-TERM trade idea (see Related Ideas:"TRADE: USDJPY:2 LONG-TERM Patterns Could Yield 1000+ pips") so that in playing this , I WILL take profits at the TP1 and/or TP2 of this IF it gets there BUT always keeping in mind that I am expecting prices to decline MUCH further in the long-term.
Please keep in mind that I am not giving any trading signals or trade calls here. Only providing my own trade thoughts for your benefit and insight as to my trading technique and style. Please don't ask if you should or should not take the trade. If you are not sure, then you do not have a trading plan for yourself in place. I suggest you make one before you continue to do any trading!
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