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07/13/2009 GBPJPY Trade

Written by Hugh, on July 13th, 2009

Long 1 lot (100 units) GBPJPY @ 4812
Stop @ 4613 (-199 pips)
Target @ 5016 (+204 pips)

Confidence Level: 5/10

Reasons to take trade:

  • Bounce off S1 Pivot
  • Big figure bounce at 4800
  • Late TriScreen entry
  • Support level on 15 min chart
Click above for larger image

Click above for larger image

The fact that I entered late on a TriScreen entry gave me less confidence in the trade.  I exited early at 4822 (+21 pips).  I actually picked a really good level but didn’t have the confidence to stay in.

Click above for larger image

Click above for larger image

As you can see, price made it all the way back up to about 5094 which would have been a +282 pip winner.  I should have kept some on to possibly capitalize on a further move.




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Category: My Trading   Tags: ,

This post was written by . His goal is to become a professional trader.