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07/20/2009 GBPJPY Trade

Written by Hugh, on July 20th, 2009

Short 1 lot (250 units) GBPJPY @ 5567
Stop @ 5660 (-98 pips)
Target @ 5464 (+98 pips)

Confidence Level: 7/10

Reasons to enter trade:

This is  a re-entry of the previous trade on 7/19.

Click above for larger image

Click above for larger image

This time the trade worked and I closed 200 units at 5454 (+108 pips).  I then moved the stop to 5562 or +5 pips.  It is now a free trade.

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I closed the final 50 units at 5328 for a nice +239 pip proft.   This was my final target at the 79% fib retracement level.

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Click above for larger image

Grand total unit weighted total was +134 pips.  Good trade.




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Category: My Trading   Tags: ,

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