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So after my very dismal trading recently I'm proud to say that I finally made a good trade!

I was watching the USD/JPY and noticed it spiking so I went short (in plain english, I predicted that the USD was being sold for too much and was going to crash back down to the levels prior to the spike so I sold some), unfortunately I did this during the first plateau of the spike and then it kept climbing and my stop loss kicked in a little bit later, when I saw that it had actually reached the top of the spike I again went short and waited for the drop. As you can see at present the price is even lower so I could have profited more, though I think that my second trade was made at close to the correct places.

My reasoning behind closing my position where I did was that I predicted that the price would halt at the prior level of resistance (which I've circled in yellow), so I took my profit just before that level. In hindsight I could have taken the risk to the earlier level of resitance (circled in red) which is approximately where it has returned to.

So I'm a happy camper again :) 

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