EURJPY: Simple Bear Bat

٢٩ سبتمبر ٢٠١٤

I don't typically do much trading on Monday's as that's my training day, and want to give the markets time to wake up. But I've been keeping close tabs on the EURJPY since last week and now that last week's bullish setup has rallied nicely, we now also have a potential setup as well.

I get a lot of questions about how to manage trades and where to take targets off and what I like to tell my clients is to "Think Like The Other Trader" meaning if you're in a bullish position, think about where you would want to get short at if you were a bear. The same way you can build a case for entry, you can do so for exits as well.

Good luck this trading week gang!

YOU CAN SEE AN EXAMPLE OF WHAT I MEAN BY "THINK LIKE THE OTHER TRADER" IN THE VIDEO BELOW
youtube.com/watch?v=KxLrIXSdyzc&list=UUVveEks3MWZqOsvzTF_LGQg