The Trade: USD/JPY Long
Date: April 14 2008, 11:45am
Entry: 101.139
Lots: 10
Stop Loss: 100.839
Target: 101.439
Reason/Setup:
This trade was entered based on the A-MACD setup and Elite setup, both on 1 hour charts. In the A-MACD setup (chart 1), we see the crossover of the moving averages. Both the MACD and AO indicators were moving towards positive, and the CCI indicator had crossed 0.
On the Elite setup, the 3 EMA has crossed over the 34 SMA and the CCI had crossed above 0.
Result:
This trade was good in that the entry was timed perfectly. I entered the trade as soon as the entry signal was give, which meant as soon as the CCI crossed 0 on the A-MACD system and as soon as the crossover candle happened on the Elite setup. The stop was also placed reasonably.
Date: April 14 2008, 7:30pm
Total Pips: +300
Profit/Loss: $295.73
Rating: 5
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