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2/3/2009 CADJPY Trade

Written by Hugh, on February 4th, 2009

Just one trade this week so this is my weekly review/trade review.  Trading still not going so well so I’m taking it easy.

Short 1 (200) CADJPY @ 7164
Stop @ 7243 (-79)
Target @ 7005 (+159)

This was a squeeze box entry.

Some notes on the trade:

  • Looks like a good downward triangle on 1 H, reward:risk  is 2:1
  • JPY isn’t moving across the board so it looks like the CAD will have to carry the move
  • No big news in either pair
  • Skeptical about the trade, confidence 6/10
Click above for larger image

Click above for larger image

I closed the trade early at 7189 (-25 pips) because price action didn’t look good on the 1 hour chart.

This was not a good trade at all because none of the candles acutally closed convincingly outside of the box.




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  3. 1/7/09 GBPUSD Trade
  4. EURCHF Trade
  5. 12/3/08 USDCAD Trade



Category: My Trading   Tags: , ,

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