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Thursday, January 31, 2008

My USD/JPY Trade (31-01-2008)


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

Hello everybody...

My trade today on the USD/JPY. Initiated a short position on this pair at 7:24pm (Singapore Time) at the price line of 106.22.

Reason for my short position is based on breaking out of my mini channel plus bearish confirmation via my secret analysis.

My stop loss at 106.47 and target profit at 105.60. Risk:Reward = 25:62 = 1:2.48.

Just got home, now is 10:41pm (Singapore Time). Currently I'm 33pips in the money. As usual, I have already shifted my stop loss to 1pip away from entry price at 106.21 :P hehehe! Confirm 1pip profit :)

Will update when this trade is closed.

Peace and trade safely everyone :)

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