Yesterday I took two short trades on AUD/JPY. First trade cost me a -45 pips, don't you just hate it when price just touch your stop loss and never really move higher than that. After my position was closed price didn't keep showing any strength and with strong believes that price will continue to weaken, I've entered again at the same level as before(94.40). Only this time with impulsive trading, I doubled the lot-size and entered only single position, I got a strong believe on this one.
As now, the trade is still open, I'm targeting the price will moved to 92.00. I've considered to let it reach it target for 1-2 days since this trade is based on 4H chart trend and nice descending triangle or flat-bottom triangle formation. This is like text-book formation and for me it was so inviting. Maybe the first trade that I've entered was too early, If I should correct what I did on this trade is to wait the price action after it penetrated the bottom trend-line. Wait that the triangle bottom to become resistance and not influenced by impulse.
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