My USD/JPY Trade (26-02-2008)

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

Hello everybody,

I shorted the USD/JPY today (26-02-2008) at 5:43pm (Singapore Time) | 9:43am (GMT) at the price line of 107.97.

What I saw was that, own analysis of chart pattern, fake out on the topside of a closing wedge. To top that up with my secret analysis.

My stop loss is at 108.17 (20pips) and target profit at 106.77 (120pips).
Risk : Reward = 20 : 120 = 1 : 6

So far, I am in about 30pips in the money. I have shift my stop loss to protective stop at 107.96. 1pip in the money.

Will update when this trade is closed :)

Peace and trade safely everyone...