+11-06-2008+(before).jpg)
*Click on the chart (Before) for the enlarged version.
Hello everyone,
Was looking at the charts the whole of today but there was nothing :P Came home and I initiated a short position on the USD/JPY at the price line of 107.15 at 09:24pm (Singapore Time) | 01:24pm (GMT).
What I saw was my price action movements. Price finally broke below the low of the morning and todays opening price. The MAs have crossed below. To support my trade idea, Fast [Ash C Wave] is still down, Slow [Ash C Wave] kissing and [Ash Cross Over] is long down. [Ash Down Up] is thick red bar. With using Fibo Retracement, I gauge my Target Profit.
My Stop Loss at 107.38 (23pips) and Target Profit at 106.42 (73pips). Risk : Reward = 23 : 73 = 1 : 3.18
My Target Profit is near to the 38.2% Fibo Retracement and it is a price action support.
Currently, 11:28pm (Singapore Time) | 03:28pm (GMT), I am around 40pips in the money. I have already shifted my Stop Loss to Protective Stop at 107.00 (15pips in the money).
Will update as this trade goes by :)
Peace and trade safely everyone...
No comments:
Post a Comment