The Trade: EUR/JPY Short
Reason/Setup:
This trade was entered based on the OzFX setup on 1 hour chart. Like the previous trades made today, this one too exhibited the perfect chart setup where the 1 hour and 30 minute indicators showed the common trend. It was easy to enter and make money in a setup like this. The reason why I am looking for just 30 pips instead of 50 pips like the other pairs is because the AC and AO have just turned in my entry candle.
Trade Details:
- Date Entered: April 18 2008, 10:10am
- Entry: 164.197
- Lots: 10
- Stop Loss: No stop loss.
- Target: 163.897
- Date Closed: April 18 2008, 12:20pm
- Result: Pair hit target point.
- Total Pips: +300
- Profit/Loss: $289.31
- Rating: 5
As I mentioned earlier, this is one of the easiest patterns to identify and make money off. Multiple time frames showing the same strong trend is not one to be missed. Another perfect trade which went in my favor right from entry.
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