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 I blog about how successful trading can improve your lifestyle and how a healthy and balanced lifestyle also plays a huge part in helping you become a successful trader. You can also follow me on Twitter.


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