Thursday, July 24, 2008

Trade Journal - 24 Jul 08

My order to short USD/JPY @ 107.90 was triggered. JPY looks to have formed a top and should be turning down. This trade is still open as of this posting.

Will wait to see if there's potential for JPY to fall to test 104.00 again.

Afternote (25 Jul): The JPY continued to strengthen during the Asian market, after failing to breach 108.00. Stop loss has been adjusted to lock in some profits. Targeting to exit this trade near 104.00.

Result: Stop loss was triggered. Trade was closed with a profit of 65pips.

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