Trade Update - GBP/JPY Long

Trade Update - GBP/JPY Long




Reason/Setup:
This was one of those special trades which was signaled at the same time by multiple setups. I found the trade using the Elite setup on 4 hour charts. The 3 EMA was just crossing over the 34 SMA. While checking this pair on other setups, I noticed that they too were signaling the trade at the same exact time. On the A-MACD setup, the moving averages were crossing up and the AO and MACD indicators were also moving towards 0. And on the HAS setup, the CCI had crossed over 0, and the 4 hour HAS candle was showing blue.

Trade Details:

• Date Entered: April 16 2008, 8:50am
• Entry: 200.30
• Lots: 10
• Stop Loss: No stop loss.
  
• Target: 201.30

• Date Closed: April 16 2008, 10:10pm
  
• Result: Pair hit target point.
• Total Pips: +1000
• Profit/Loss: $1025
• Rating: 5

Comments:
This is another example of a perfect trade entry. It was signaled exactly at the same time by multiple systems instead of signal by one and trend confirmed by another. That is one of the reason why I put a big target point for this trade. But in hindsight, the target was too small. The pair kept moving higher after hitting my target, and I missed out on a huge move.