Trade Update - GBP/JPY Short CLOSED

Update 02-29-08:
Good day for our open positions. Most have then have closed for good profits. Our 3 lots closed with the following profits.

Lot 1 (closed at 6:40pm 2/28) : +41 pips
Lot 2 (closed at 6:50pm 2/28) : +92 pips
Lot 3 hit trailing stop at 6:25am: +188 pips

T0tal Pips: +321
Total Profit: $385.08

Update 02-28-08 5pm:
Some wild moves. Just minutes into opening this position, the Yen moved higher across all currencies. Not sure of the reason for this sudden move, but both my target points were hit. I gained 40 pips in one lot and 91 pips with the 2nd lot (I need to set my TP's better). Stop loss has now been moved to break even. And I still have a lot open with a +55 pip gain.

The Trade:
Once again we are entering one of our previous trades. The charts still look good on this one, so I am going to take the risk and enter it again. As before, the AC & AO is showing red, and the Stoch & RSI are trending lower. The price is also well below the 200 SMA. I think we will see some movement to the 207-206 range for this pair.


Lots - 3
Entry (Short) - 209.4180
Stop Loss - 210.4180
TP1 - 209.010
TP2 - 208.504