The Trade:
- Pair: EUR/JPY Short
- Date: April 09 2008, 9:30pm
- Entry: 159.820
- Lots: 10
- Stop Loss: 160.320
- Target: 159.320
- Reason/Setup: I had noted the box play setup on 4 hour chart, but failed to place any limit order. At the open of the Asian session, the pair moved lower and broke out below the box. By the time I entered the trade, I had already missed a 60 pips move. Luckily the signal was also confirmed by the A-MACD system and I decided to enter the trade. And the trade was also signaled by the Elite setup on 4 hour charts. So I placed my stop and target 50 pips away.
Result:
- Date: April 10 2008, 4am
- Total Pips: +500
- Profit/Loss: $496.36
- Trade executed to plan? Yes
- Rating: 4
- Comments: Again the reason I gave this trade a 4 instead of 5 rating is the late entry. Had I played the box setup or Elite setup correctly, it would have been a perfect trade. In any case, I got the signal from multiple setups confirming a genuine trend. The OzFX system was also developing the sell signal which confirmed my trade.
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