The Trade: EUR/JPY Short
Reason/Setup:
Entered this trade based in the OzFX setup on daily chart. This was a perfect entry signal with the AO just turning red and the AC showing multiple red bars and the Stoch moving down. The pair has had a good run up so far and a pullback is imminent. I entered the trade as soon as the new candle appeared. I placed the target point based on Fib levels of the last run up.
The OzFX forum recommended not taking the daily signals today.
Trade Details:
- Date Entered: April 23 2008, 4:30 pm
- Entry: 164.228
- Lots: 10
- Stop Loss: no stop loss set.
- Target: 162.378
- Date Closed: April 29 2008, 12:10 am
- Result: Pair hit target.
- Total Pips: +1850
- Profit/Loss: $1775.70
- Rating: 5
Comments:
This was one of the best trades I have made. It certainly is my biggest winner so far. The entry was perfect and the trade was executed well. The price moved in my favor right from the beginning, and this was one of those low tension, low risk, high probability trades.
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