I Need Your Help! It Will Take 10 Seconds and I Would Really Appreciate It - Click Here
 
«  
  »

07/19/2009 GBPJPY Trade

Written by Hugh, on July 19th, 2009

Short 1 lot (400 units) GBPJPY @ 5491
Stop @ 5545 (-54 pips)
Target @ 5326 (+165 pips)

Confidence Level: 5/10

Reasons to take trade:

  • Bounce off 5489 key level
  • Bounce off bottom of channel on Daily chart
  • Previous support fractal
  • Early TriScreen entry, MACD divergence
Click above for larger image

Click above for larger image

I got stopped out.  I should have waited for the %R to roll out of overbought but I was a little anxious.

Click above for larger image

Click above for larger image

Final score was -54 pips.  This is still a viable trade though, looking for a re-entry.




If you enjoyed this article, you might also like:

  1. 07/09/2009 GBPJPY Trade 2
  2. 07/17/2009 GBPJPY Trade
  3. 07/13/2009 GBPJPY Trade
  4. 05/29/2009 GBPJPY Trade
  5. 04/13/2009 GBPJPY Trade



Category: My Trading   Tags: ,

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