Beginning to learn the Kiss Trade

So, last week, Jordan taught the class about the Kiss trade - I've been looking for an opportunity since then, but haven't really spotted one. This morning, though, it looks like I might have an opportunity here on the EUR/JPY.

On the hourly timeframe:

On the daily timeframe:

And finally, on the 15-minute timeframe:


Adding in Fibonacci retracement lines, it looks like we could be in for a good opportunity to short this pair:

If I'm reading this right, it's indicating that this pair may head downwards in a couple of big waves: one down to the 78.6 9 (close to a green up-arrow) at 157.28, which is also clustered with the 38.2 line from the larger-scale Fibonacci retracement from 153.36 to 159.69; the second, continuing further down to 154.65, where again we have a cluster of Fibonacci lines: the 161.8 of the smaller retracement and the 78.6 of the larger one.

I'm taking this trade, even though it was only a little black downward arrow.

Why am I taking the trade? Okay, still because I want it to do well. But also, at least a little, because it looks like the Forex Profit system that Jordan was talking about, the Kiss trade. I really want to try this trade out, and I guess I'm tired of waiting for a red arrow to confirm this is a good trade. Not smart.

Zooming out on the hourly timeframe:


There is a definite red arrow there on the hourly timeframe: maybe I shouldn't be mixing and matching, but I want this trade. On the daily, it does indicate a bearish market, so I think (hope?) that it's safe to take this trade.

Note that on the hourly, it's also done a complete price pivot and has already tested the failure line and bounced off it to continue downward:

I'm getting in at market price on a short: I placed a trade to sell 10 micro-mini lots at 158.80, with a stop at 159.30 (just in case I'm wrong on the direction) and a limit above the 78.6/38.2 mark, at 157.40.

Now I'm off to work: let's see how this trade does today.