My USD/JPY Trade (11-03-2008)

*Attached charts (Before) & (After). Click on it for the enlarged version.

Hello everyone,

It is based on candle studies and price action movements. Plus co-relation on the EUR/JPY that I saw but won't go in depth on this part.

The candle formation that made me decide to long USD/JPY is a pattern that is similar to three line strike. Using modified version of my secret analysis which is in my favour.

Went long at 5:02pm (Singapore Time) | 9:02am (GMT) at the price line of 101.98.

Stop loss was at 101.75 (23pips) below 23ma and Target Profit 103.30 (132pips) below 200ma. Risk : Reward = 23 : 132 = 1 : 5.73

Have to attend to other commitments and I reached home at 12:10am (Singapore Time) | 4:10am (GMT) to know that my target profit has been triggered at 10:26pm (Singapore Time) | 2:26pm (GMT).

132pips profit for this trade...

Peace and trade safely everyone...