The Trade: GBP/CHF Short
Reason/Setup:
Something strange is happening currently. All the CHF and JPY pairs are pulling back, and more importantly, they all have the exact same chart patterns. I got this signal from the OzFX setup on 1 hour charts. The trend was also confirmed in the 30 minute chart.
Trade Details:
- Date Entered: April 18 2008, 10:10am
- Entry: 2.0393
- Lots: 10
- Stop Loss: Did not have a stop loss.
- Target: 2.0343
- Date Closed: April 18 2008, 11:30am
- Result: Pair hit target point.
- Total Pips: +500
- Profit/Loss: $490.52
- Rating: 5
Perfect entry and perfect exit. The chart pattern was ideal for this kind of trade. Its not too often that you have multiple time frames showing the same trend. I did not have a stop loss point for this trade, but the trend was strong and I was hoping to manually stop te trade if it reverses.
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