I shorted USD/JPY today at 94.55 on a pending order (sell limit) and closed 2 hours later with only 2 pips. It was reversing and showing its momentum to break its resistance. I closed it after the price came down.
In fact i placed 2 pending orders and i canceled the other after this one activated as i do not want over-exposure. And i was lucky as the other pending order, a buy limit for GBP/USD would have been activated. As Pound Sterling tumbles sharply during the European session on news that S&P rating has lowered its outlook of UK economy. There were concern that UK's AAA rating could be downgraded for the first time in history. GBP/USD dropped 222 pips from opening of GMT 8:00 hour. However the pair recovered later.
In fact i placed 2 pending orders and i canceled the other after this one activated as i do not want over-exposure. And i was lucky as the other pending order, a buy limit for GBP/USD would have been activated. As Pound Sterling tumbles sharply during the European session on news that S&P rating has lowered its outlook of UK economy. There were concern that UK's AAA rating could be downgraded for the first time in history. GBP/USD dropped 222 pips from opening of GMT 8:00 hour. However the pair recovered later.
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