06/29/2009 GPBJPY Trade

by Hugh Kimura on June 30, 2009 · 1 comment · My Trading

Short 1 (800) GBPJPY @ 6003
Stop 6033 (-30)
Target @ 5973 (+30)

Reasons for trade:

  • 6000 big figure bounce
  • 4 hour support/resistance
  • Pivot @ 5998

Confidence: 5/10

Price looked extended at this level and I was looking for a bounce at these levels.

Click above for larger image

Click above for larger image

Price moved in my favor and I put in a limit order to buy back 700 units at the target, 5973 (+30).

Click above for larger image

Click above for larger image

The limit was hit and closed 700 units at 5973 for a +30 pip profit.  Closed the last 100 units at 5952 for a +51 pip profit.  Total average profit for the position was +32 pip profit.

About The Author: Hugh Kimura
Hi, I'm Hugh Kimura and my mission is provide you with the very best information about trading and living better through research and my own personal experience. You can also follow me on Twitter and Google+. Note: All information is for entertainment and education only and is not investment or trading advice.

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