UJ (USD/JPY) was getting close to entering a critical daily and 4 hour zone. This was one tricky zone when planning the trade. There were three possible trade zones that were all relatively close to each other. This is one of those trades that can be difficult to judge when setting up. After analyzing current price action I decided to place my trades in a 4 hour zone with a tight SL. This ended up not being the correct point of entry. However, I had known that there was a possibility this could be incorrect and that price could shoot slightly past this area. It did. I also knew that if price was capable to get to the top of this range that there would still more then likely be a pull back. UJ had been rallying for hours. there needed to be some sort of pull back. The first two trades I set up ended up being losers. In fact where my SL was set was the second area of interest for me. It was the top of the range. I noticed price was making reversal candlesticks, so with my knowledge of this sort of price action in areas like this I loaded up sells. I placed my TP for these trades where I thought price would stop dropping and then return back to the highs. This ended up being correct placement for this trade. Below is a picture of these trades along with my two losers. I ended up the day up 11% on my account which brings me to a total of +15% for the month and 120% up total on the account.
EJ (Eur/Jpy) had a very similar setup as well but I did not trade it. I only trade two pairs U/J and E/J. I find they work the best with how I trade. Also by only focusing on two currencies to trade my accuracy and patience for optimal trades has only increased. It can become overwhelming trying to focus on all the majors. I would know, I use to attempt that madness. If you are struggling with trading I suggest dropping down to just one instrument to trade. Out of all the instruments if you don't have one that you are fond of I would highly recommend U/J. It doesn't typically have huge swings and is very predictable. This will help keep your account alive if you are new to trading and still trying to figure things out.