Tuesday, April 13, 2010

GBP/JPY Live Trade

Morning All

Always best to wait for Tuesday some days, what a hot mess the market was yesterday, all over the place, things are starting to look a lot clearer this morning, this brings me to todays trade.

Reasons for Entering

1. GJ has reached and rejected its short term range high at around 144.20ish
2. COT data from last friday still pointing to lots of sellers, so selling with the strength makes sense here
3. Nice pinbar daily candle on the close of monday
4. Yen cross selling on the back of weaker yields and equitites overnight

Entry - 143.30
Stop Loss 1 - 143.90
Stop Loss 2 - 144.30
Take Profit 1 -142.75
Take Profit 2 - 141.60
Take Profit 3 - 139.50
Runner - 

Update 1 - Admin Fee Achieved

Update 2 - Take Profit 1 Achieved

Update 3 - Break even - trade closed

2 comments:

  1. lol , missed your cool entry - twitter message came 3 hours after blog post ,I will check your blog in 11:00 AM from now

    ReplyDelete
  2. I was watching the trade develop so twitter post came 1.5 hours after I entered, sometimes u have to just watch and make sure its gonna go your way

    ReplyDelete