The Trade: EUR/JPY Long
Reason/Setup:
I entered this trade based on the A-MACD and Elite setups, both on 4 hour charts. On bot these systems, the entry was near perfect. In fact this was probably the best entry I have even made following these setups, and substantially limited my downside move. The charts above show exactly where the entry was made.
Trade Details:
- Date Entered: April 15 2008, 11:15am
- Entry: 160.347
- Lots: 10
- Stop Loss: 159.847
- Target: 160.847
- Date Closed: April 15 2008, 2pm
- Result: Pair hit target point.
- Total Pips: +500
- Profit/Loss: $491.02
- Rating: 5
Due to the near perfect entry on this pair I could keep a 50 pip stop and target point. In fact I could have kept a bigger target point, but I did not want to get too greedy. I have had a strong of losing trades, and I was desperate to get some wins under my belt for this week. This chart is also an example of how a stress free trade works. The pair continued to move up steadily with just the slightest of pullbacks.
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