Trade Update - USD/JPY Short

The Trade: USD/JPY Short



Reason/Setup:
Yet another trade based on the OzFX setup on 1 hour charts. And like the previous trades, it uses the same premise of the weakening of all CHF & JPY pairs. And the 30 minute & 1 hour setups showing identical chart patterns and trends.

The only difference in this trade is that I entered this pair twice for 2 separate trades. I placed too small a target for my first trade, and the signal was still strong. So I entered the trade once again.

Trade Details (Trade 1):

• Date Entered: April 18 2008, 10:15am
• Entry: 104.257
• Lots: 10
• Stop Loss: No stop loss.
  
• Target: 103.957

• Date Closed: April 18 2008, 11:10am
  
• Result: Pair hit target point.
• Total Pips: +300
• Profit/Loss: $288.59
• Rating: 5

Trade Details (Trade 2):

• Date Entered: April 18 2008, 11:10am
• Entry: 103.955
• Lots: 10
• Stop Loss: No stop loss.
  
• Target: 103.755

• Date Closed: April 18 2008, 12noon
  
• Result: Pair hit target point.
• Total Pips: +200
• Profit/Loss: $192.76
• Rating: 5

Comments:
Both trade were entered for the same reason. This was the final trade of the day and what a great way to end the week.