My GBP/JPY Trade (25-10-2007) - Update 2

*Attached chart. Click on it for the enlarged version.

Hello hello again :) Today, [26-10-2007], let's see how is my trade on the GBP/JPY is doing.

After the previous two post on this GBP/JPY trade of mine, [My GBP/JPY Trade (25-10-2007] and [My GBP/JPY Trade [25-10-2007] - Update 1], I am expecting this pair to have an upclose in the daily chart.

Anyway, back to the hourly chart. I have drawn some more lines which is coloured in dark blue. The final uptrend line is still the same as the original Line 5 in orange. Yesterday, it managed to break above my first resistance level at around 234.10. Now, it has to break another resistance level around 234.90-235.00 or the 200ma.

If market is unable to break above this resistance level by today, there is two possibilty that I will do. 1) I will manually close my trade or 2) Adjust my Stop Loss to my entry price.

If market is able to break above, I will shift my Stop Loss to entry price.

Currently, this trade is 90pips in the money.

Do not follow this trade or take it as a trading idea. It is merely for educational and public viewing purposes.

Peace and trade safely everyone...