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08/12/2009 GBPJPY Trade

Written by Hugh, on August 13th, 2009

Short 1 lot (800 units) GBPJPY @ 5724
Stop @ 5750 (-26 pips)
Target @ 5698 (+26 pips)

Confidence Level: 5/10

Reasons to take trade:

  • Bounce off S1 pivot
  • Bounce off former support on 15 min chart
  • Hit 50% Fibo retracement on 1 hour chart
  • Key S/R level on 1 hour chart
Click above for larger image

Click above for larger image

Got stopped out as price ran through the level.

Click above for larger image

Click above for larger image

One sign that I should have paid attention to was that price went sidewards on the 1 minute chart.  My instincts told me to exit at a +5 pip profit, but I didn’t.

I got stopped out at 5750 for a -26 pips loss.




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  5. 07/09/2009 GBPJPY Trade 2



Category: My Trading   Tags: ,

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