[TW] 2012-04-28 EURJPY Short by littlebopip

Pair: EURJPY

Long or short: Short

Timeframe: Daily

Trade rationale: There’s a head and shoulders pattern forming on the daily chart and the 61.8% Fib lines up with the 109.00 handle and a former support level.

Entry: 109.00

Stop loss: Above 110.00, but I plan to trail this by 100 pips once my trade gets triggered

Profit target: 105.00

Chart ? ? ?

Thanks for sharing littlebopip…right now the EUR/JPY is trading at 106.09…do you think it’ll still reach 109 to trigger your order?..looking at a daily chart it seems to be that there is substantial resistance at 108.5…and i see a support level at 105.68…potentially not reaching your TP…but thanks for your trade idea…i think im going to put in a buy order at 105.57…

Should’ve held on to this trade until 96.00!