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Low Maintenance

Written by Hugh, on October 10th, 2007

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…Because your girlfriend probably isn’t…

Anyway, pretty simple trade tonight. I just put it on and it made money.

6:23 ET – S(5) USD/JPY @ 1743, Stop @ 1759, Target 4 @ 1717, TS 1 @ 20 pips
Bouncing off resistance levels, pivot at resistance.

9:35 ET – Limit hit, 4 @ 1717

10:08 ET – Trailing stop hit, 1 @ 1739

Trade Totals: +37 pips x 4 =+148
+4 pips x 1 = +4 pips
Grand Total: +152 pips = +$9.22 (+$922 in full account)

Pivots
R2 1776
M4 1761
R1 1746
M3 1730
PIVOT 1713
M2 1698
S1 1683
M1 1667
S2 1650

Follow up: Not a bad trade but I think I should move the trailing stop back to 30 pips. It exited way too early on this one. New high watermark.

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