Trade Update - CHF/JPY Short CLOSED

Update 03-11-08 7am:
Once again this pair has decided to kill me. When I held it in a long position, this pair would not go up and now when I hold it in a short position, it spiked to new highs thereby hitting my stops. It looks like the Yen was weak in yesterday's session against all currencies. All the JPY pairs opened in the OzFX forums also resulted in loss.

Total Pips: -300
Total Loss: $293.63

So officially this has got to be my most hated pair as I have collectively lost around $400 in 3 trades with this pair (2 massive losses and a small win). I will be more careful trading this pair in the future.

The Trade:
Today I just closed my long position on this pair. But at the end of the day, I got the signal for the short trade. All the indicators are trending down, including the RSI, %R, Stochastic and the AC & AO are showing red. The only thing that does not confirm to the OzFX daily system is that the price is above the 200 SMA. But considering the amount of resistance this pair had to the upside, I hope this should not be an issue.


Lots: 3
Entry (Short) - 99.60
Stop Loss - 100.60
TP1 - 99.10
TP2 - 98.60