Earlier I did a video on the potential USDJPY short trade that should come in. A trader had the opportunity to trade this using one or all of the following:
- Spot Forex
- Binary Options
- Touch Brackets
I opted to trade using the binaries and touch brackets (didn’t like the premiums on the spreads). The 15-minute chart was the key to showing that price would go down.
Entry on the Touch Bracket was at $110.99. The ceiling was at 111.31 and the floor was at 108.81.
The sixty minute chart below shows how this played out. The bright red was the entry. The dark red was the ceiling price, the yellow line was where the six hour chart projected price to go.