Simple Level Trading

Going to start journaling here. Very simple stuff - chart, identification of key levels, and execute.

USDJPY - Sell @ 107.17, SL @ 107.42

 

1. Over on the M15 timeframe, pair breaks below a trendline
2. After it breaks down the 107.27 level, it retraces back up
3. Sell trade entered to provide good R:R if level holds as resistance

USDJPY - Closed @ 106.79

 

1. This was a major demand level, unlikely for price to go lower given this strength