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07/17/2009 GBPJPY Trade

Written by Hugh, on July 17th, 2009

Short 1 lot (500 units) GBPJPY @ 5301
Stop @ 5320 (-19 pips)
Target @ 5282 (+19 pips)

Confidence Level: 5/10

Reasons to take trade:

  • Bounce off the big figure at 5300
  • Bounce off S1 pivot
  • Bounce off previous support
Click above for larger image

Click above for larger image

Closed whole position @ 5296 (+5 pips) because price action looked like it had a strong bias to the upside.  I think this was a good defensive exit.




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Category: My Trading   Tags: ,

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

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