Netted 70 ish pips on USD / JPY , not too sure if I am happy with the trade though. I spotted potential for a breakout on 15 minute chart , corresponding with double bottom low higher close on a fib level on the dialy time frame and acted. A couple of hours later and nothing happend until the price broke out 70+ pips in less than 15 minutes.
I know the mantra of any trader is let your profits run and cut your losses, i cut out of this position when it hit a level of resistance with a fib level and daily pivot. My reasoning for exiting is I was not comfortable riding out the position and would like to wait for a consolidation on these levels. I am also mindful of not trying to pick the full trend but only 80%, will see how I go tommorow on this one.
Key actions for tommorow - Watch for support on this level and look for another entry. Daily chart suggests that this has longer to run, this is a result of the double bottom low higher close on the fib level.
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