Here are my trades for October 29, 2010. I closed out a trade from a few days ago and did two new trades.
This was the final result:
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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 [...] Short 1 lot (200 units) GBPJPY @ 5773 Stop @ 5875 (-102 pips) Target @ 5671 (+102 pips) Confidence Level: 5/10 Reason to take trade: Bounce of previous high Click above for larger image The reason for getting into this trade was pretty weak. There should be at least 3 levels that would [...] Sell 1 lot (800 units) GBPJPY @ 6234 Stop @ 6265 (-31 pips) Target @ 6203 (+31 pips) Confidence level: 6/10 Reason to take trade: Resistance Daily high Pivot point Click above for larger image Closed trade early…closed 700 units at 6213 and 100 units at 6265 for a total unit weighted profit [...] Short 1 lot (700 units) GBPJPY @ 6153 Stop @ 6185 (-32 pips) Target @ 6115 (+38 pips) Confidence Level: 5/10 Reasons to take trade: Bounce off strong resistance Bounce off M3 pivot Click above for larger image I was apprehensive about this trade because price is bouncing off the trendline on the [...] Short 1 lot (1,000 units) GBPJPY @ 6056 Stop @ 6075 (-19) Target @ 6037 (+19) Confidence Level: 4/10 Reason to enter trade: Channel bounce on Daily chart. Same trade as previous trade. Click above for larger image Stopped out at 6075, for a loss of -19 pips. I only got stopped out [...] Short 1 lot (1,000 units) GBPJPY @ 6051 Stop @ 6070 (-19 pips) Target @ 6032 (+19 pips) Confidence Level: 4/10 Reason to take trade: Channel bounce on Daily chart. It was in a tight range and looked like it would head lower. Click above for larger image Price action didn’t look good [...] Long 1 lot (600 units) GBPJPY @ 5549 Stop @ 5510 (-39 pips) Target @ 5588 (+39 pips) Confidence Level: 8/10 Reasons to take trade: Bounce off pivot Bounce off support during Asia Price holding in well defined range I actually entered late on this trade, I missed the bouce level by 15 pips. [...] Short 1 lot (500 units) GBPJPY @ 5731 Stop @ 5775 (-44 pips) First target @ 5687 (+44 pips) Confidence Level: 7/10 Reasons to take trade: Strong resistance at highs on 1 hour chart Pivot resistance @ 5720 Bearish short-term bias based on the trendline on the daily chart Click above for larger [...] |
 
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