Finally .. entered a trade on 17 Jul

Finally, started to place my trade orders again ... after a month's break from trading.

USD/JPY was the big winner for me ... Longed the pair on 17 Jul at 105.39 and exited at 106.50 for a profit of 121 pips. This entry was made when the pair was trying to break upwards on the 30min chart

Similarly, my order on the EUR/USD to short it at 1.5875 was also triggered. However, this did not do as well as the JPY. Stop loss was moved to breakeven when the EUR moved 40 pips in my favour. In the end, this trade was exited with no loss when the EUR spiked back up, since it was in a consolidation phase. Should have seen that coming ... sigh.

Nonetheless, the week ended with a profit of 121 pips.

It's been some time ....

Have not post anything for some time. Still figuring my way around writing blogs. Let's start again.

Trade 01 / Week ending 24 Nov 07

22 Nov 07 - Short USD/JPY at 10855 @ 2332hrs


Reason for trade:

The USD/JPY was in a small channel on 30min chart with the following BKO pts.


BKO (Up) @ 10879
BKO (Down) @ 10858


Placed Limit Order to Short at 10855 (initial SL @ 10905) since the daily chart is forming Wave J down, with WTP @ 10655.

X @ 11794
A @ 11454
B @ 11592

SL moved to 10820 when price moved broke below 10800 to protect profits. USDJPY then swinged up from the day's low near 10756 and hit my SL.

Profit: +35 pips