How's working 1 hour per day for you? USDJPY (30 Mar 09)

Trading for this 20 pips move took a grand total of 1hour. Cool?
USDJPY was creating a ascending wedge with some form of volatility squeeze. Sellers are defending their positions at higher prices. Good for a long breakout. It's interesting to note various MAs on higher timeframes at 96.80

Prelude:
Long USDJPY at 96.80, SL 15 pips and TP at 97.00; a round number.


The Trade:
The breakout occured but the move was disappointing, <10pips. I exited with 6 pips when the price started pulling back; possible false breakout (Trade 1). I reentered at 97.90 with SL and TP both 10 pips (Trade 2). 2 reasons; one, it was near a round number, two, price did not fall back to previous levels despite the breakout.
Be careful readers if you do re-enter a previous trade; especially failed trade. Never fall in love with your trade!
In slightly more than 5 minutes, I bagged the 10 pips.


On Hindsight:
I observed a top-ish stochastics at 97.00 hence confirming that an exit there is safe even though price moved another 10 pips before collapsing.
The exit for Trade 1 might have been a bit anxious, but in this kind of market safe is better than sorry. Holding on probably means an extra 4 pips. One reason why the price lingered there slightly might be the MAs on higer timeframe mentioned at the start.