My EUR/JPY Trade (09-10-2007)

*Click on the chart for the enlarged version.

Hello people. One of my recent trades. This one is on the EUR/JPY.

Yesterday, I went in long on this pair at around 10:50pm :) So what I saw was that, 9:00pm (Singapore Time) candle finished with a down close hammer formation and it can't break below the 200ma in my hourly chart. Initiated the long position at the price line of 164.60. Stop Loss at 164.30 and Target Profit at 165.50. At around 2:00am (Singapore Time) I was already in the money and I shifted my stop loss to my entry price.

This afternoon (10-10-2007), I manually close my trade at the price line of 165.34 at around 12:30pm (Singapore Time). That is a 74pips profit for this trade.