My USD/JPY Trade (15-07-2008) --- Position Squared

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

Hello everyone,

I'm busy these days. Apologies for not posting my trades often. 400+pips was made for the month of June 2008.

My trade today on the USD/JPY. For this trade I was a little conservative due to the data release coming out and one of them is of course Fed's chairman's testimony.

I initiated a short positiong at 08:55am (Singapore Time) | 12:55am (GMT) at the price line of 106.02. A continous candle pattern (Falling Three Method) and price action and my indicators to support my analysis.

My Stop Loss was at 106.17 (15pips) and Target Profit was at 105.65 (37pips). Risk : Reward = 15 : 37 = 1 : 2.47.

Target Profit got hit at 04:50pm (Singapore Time) | 08:50am (GMT).

37pips profit for this trade :)

Peace and trade safely everyone...