Day Trading Journal – Looking for those retracements


Still mainly looking at the JPY pairs after those moves up and its a similar story to what I said Yesterday. Waiting to see if price retraces or perhaps consolidates as we often see it do after a move in one direction. Trading FX is not really a day trading strategy and a lot of time for me is spent waiting for my setups to occur. Fib levels in on GBP/JPY and CAD/JPY, USD/JPY broke out of the box to the downside for a nice short trade and I have also flagged an interesting level on AUD/JPY which is well worth a look and provided a long this morning. As always any thoughts or comments you have we would love to hear.