The Trade:
- Pair: USD/JPY Short
- Date: April 09 2008, 5:30pm
- Entry: 101.252
- Lots: 10
- Stop Loss: 101.752
- Target: 100.752
- Reason/Setup: This trade was signaled by the OzFX system on daily charts. As I have mentioned above, the OzFX is one of my favorite setups as it gives me extremely high success rates. As seen from the chart below, the AC and AO indicator are both showing the red bar indicating a downward trend. The stoch is also moving down from overbought territory. This is a classic OzFX setup entry.
Result:- Date: April 09 2008, 11pm
- Total Pips: +500
- Profit/Loss: $496.27
- Trade Executed to plan? Yes
- Rating: 5
- Comments: As mentioned above, this is one of the high probability trades. Trade was executed as soon as the signal happened. The stop loss was within my risk criteria (50 pips) and I placed the target 50 pips away. Once again, I am not trying for the multi 100 pip gain in OzFX anymore, but rather 50-100 pips each time with bigger lots. Once again a perfect trade.
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