"Trade Share" is sharing of my trades once in a while.
This trade was done today 20th April 2011 at 10:26am (Singapore Time) and I thought today was going to be one gloomy day.
Why EUR/JPY and not on USD/JPY? Good question, with the uncertainties happening with US, I do not feel the sincerity on the movements with USD/JPY. Although it bounces of 38.2% Fibo, it just did not have that uuummmmppphhhfffff to create a higher low.
On the other hand, EUR/JPY was showing more sincerity when it bounces off 38.2% Fibo and created a higher low with yesterday's price action. Hence, today, a long position was opened at the mentioned time, at the price of 119.368.
Stop Loss was easy to put, at 119even. Target Profit was given more attention before deciding. I could be greedy and put a ridiculous target at a higher high but that will be too far fetch. As it is, I am not a long term trader. With the R2 of pivot points at 120.298 and the 10ma of Daily chart at around 120.370 at the point of execution, the Target Profit has been set at 120.31.
As it is and always be, the usual things in life. Late again :P hahaha!!! Was checking up on the trade as and when on my Android Dell Streak and suddenly, my open position disappeared!!! Either the trade hit my stop loss which was unlikely because the previous check, the trade was at 86pips into the money or my target profit was hit. A quick look at the closed position window and that is where the truth lies, my target profit was hit at 6:43pm (Singapore Time), 94.2pips in the bag =^_^=
Not a bad day after all. I am all smiles tonight...
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