Thursday, February 28, 2008

GBP Preview


Hi all,

Here is my trade on GBP-JY.I re-enter the trade (short @212).As on the chart you can see that I enter just on the blue EMA zone.Yes I usually do like this when to re enter the trade.With this way, I just need to put SL usually around 50, since if the price hit the SL, it's mean that the trend is break and will turn soon.But in this trade i put a 100 SL due to volatile of the market but will move it according to my strategy as the price move to my favor.Basicly the price now in between the tunnel/channel with a downtrend.My first target will be the support channel, as the price break..then I will close half of my order and let run the other half but with a BEP stop loss with a target in the 207-209 zone (depend on the Price Action to close it later).Well that my view so far on this pair.Master your setup.:D.Arigato.

UPDATE:Current price : 210.95 and the price on the support now.The crucial time :) since if brake..it will bring us to another 100-200 down move..but If not..it will rebounce about 100 pips to 212 back again.I close my order :D Just to watch out.97 pips too good to be given back to the market.So lock them in.

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