Long or Short: SHORT
Entry Point: MARKET (88.00), 87.25, 86.50, 85.75
Stop Loss: 88.75 (will move every 75-pip move to my favor as I add more positions)
Profit Target/s: ultimate target for all positions is 85.00
Reward-to-risk Ratio: if all targets hit, 10:1
Risk percentage: 0.3% per position
Trade Rationale: For the most part, this is a technical trade. I saw a rising wedge on the 4-hour timeframe around the most recent high. Fundamentals don’t look that good with the JPY still weak because of BOJ decision. That’s why I only risked 0.3% instead of my usual 1%.
Trade Adjustments: I will add another position and move my stop by every 75-pip move in my favor.