My GBP/JPY Trade (31-10-2007)

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

Hi guys. How is everyone doing? Couple of hours left till the USD's Interest Rate Announcement :P Hehehe! It is 12:40am (Singapore Time) now and I am damn sleepy but I can't sleep :P Hahaha!!!

Anyway, today. I didn't trade the Majors because of the confusion of market due to the extreme weakening of the USD, I was looking at crosses today and it is my favourite tiger, the GBP/JPY.

Did three trades on this bugger. The first one was at 12:40pm (Singapore Time), I went in to short it at the price line of 237.40. But at the end of the 1:00pm candle, a strong rejection was formed so I manually closed it at 237.36 and that is 4pips gain.

During the 2:00pm (Singapore Time) candle, another strong rejection and I went in a long position at the price line of 237.45. The blooper on this trade was that, my target profit is at 239.60 which is my resistance level in my Daily chart but because I was in a hurry (to go toilet), I did a typo and my target profit was at 237.60 instead.

So I rush to the toilet and meet Louey and had a good pee pee and when I came back, I found out that I had no open position, I checked my account and the trade was closed at 237.60 (my typo target profit error) with 15pips gain! ARGGGGGHHH! Dammit! One of the times that I was actually mad with my little Johnny. Hahaha!

So I waited for awhile and the price broke through my resistance at 237.70 (which was my target profit based on my previous analysis), then I placed a pending order to buy at the price line of 237.80. I was filled in like seconds at 3:55pm (Singapore Time) :P Hahahaha!!!

Now, the trade is still open and my target profit at 239.60 and stop loss has already been shifted to my entry price. Let's see how it goes. Price now is like inches away from my target profit.

Peace and trade safely everyone...