AUDJPY - 8th November 2013 - Day trade #2

Lost my second trade for today. My forecast isn't playing out so I'm out for the day.

This trade was cheap, with a stop loss of only 2.4 pips. I filled my short at a good price, 92.891. This took place at a good resistance area, where we have confluence with a short-term round number (92.900) and the 50% fib retracement level.

My reward was around 7R, so this was a long-shot trade.

Net pips lost = -2.4 - 0.55 = -2.95 pips