My USD/JPY Trade (28-10-2008) --- Position Squared

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Hello everyone,

I apologise for not posting anything for the longest time. OMG! I didn't even have time to capture my trades done for posting. All I had was trade and zoom back to fight the financial meltdown at my desk.

Anyways, I managed to squeeze sometime to at least post this one out :)

My trade on the USD/JPY done on 28-10-2008.

Was only looking on Monday at the market as it goes by and I saw a consolidation and a wedge being formed. It broke out and even that didn't tempt me a little bit to be trigger happy.

Stick the rules and it is around the Weekly Pivot. It broke above Weekly Pivot then came back down and it went back up and that was when my eyes were brighten up.

My Moving Averages are up, both my MACDs are up and my Stochs are like sky high and my GRBB was in a good mood. Waited for that hour to end to re-confirm price action is strong enough to stay above the Weekly Pivot and initiated a long position at the start of the next hour at the price line of 95.34 at 08:00pm (Singapore Time) | 12:00am (GMT).

My Stop Loss is at 94.80 (54pips) and Target Profit at 98.00 (266pips) which just below 38.2% Fibo (Weekly Chart) and Low of 10-10-2008. Risk : Reward = 54 : 266 = 4.9

Basically, after that, I didn't look at my charts and continued with my things. Went home, had dinner with my wife and do some other stuffs. The next day, when I woke up, looked at my charts and my Target Profit was hit at 03:21am (Singapore Time) : 07:21pm (GMT).

266pips profit for this trade.

Peace and trade safely everyone...