Risky trade if you ask me, it's better to short at the pullback line, if the price goes up there of course. Let's see...
There seems to be some support around the 93.80 area but I prefer to wait for confirmation. What are your target and stop in that particular case?
I agree with you. The upside does not look great. I did not look at it extensively. I just looked at the risk, and it did not look bad. I entered at 83 as I thought buyers might be around 10 pips down. I am looking for it to rise a bit, and place a stop within the profits area, or take half off so that the stop does not cost.
I agree that holding for big winner is the best option. The entry was sort of late, and the stock market did not sell off. Where do you think it would go to?
When a trend is in place and the market is going my way in a big way, I simply put a simple moving average (MA) on the chart and if two consecutive bars close completely above that MA (or below for long positions) I exit the position, simple as that. This is by far the best way to ride a trend. There are of course other ways to exit a winning position but I discovered that a simple moving average works wonder in that case. In other words I let the market be the boss and I never try to guess how far it will go. The EUR/JPY could drop another 500 or 1000 pips, we never know. Surf the trend until it ends, that's my motto
Wow, you've got guts TradingJournals, even James Bond would not dare to buy the EUR/USD at this moment But everything is still possible, and most of the time the market reverses its direction between 2 AM and 5 AM (New York time), so...