I bought the USD/JPY pair at 93.75 as it broke the bearish 5 minute pattern. I had initially put on a 100 pip target with a 50 pip stop. The market hit a short term peak of 94.15 and then headed lower.. I waited to see if it would go up against it again and yes, it did and start it fall away from it.. hmm, I could take my profit or wait to see what would happen. Looking at the 4 hour chart, the chart looks like it may go lower so I took my profit at 94.10 for 35 profit.
I just closed out a couple of trades for a +37 and +49 profit... I have already broken the rule from my previous email which says that I should run with winners and close out losers. I have closed out my winners here but at least, it was in profit.
I spotted an excellent long entry and went for it, got in at 175.61 and closed it out at 177.23 for 162 points! Hoorah, that's a nice gain. I could have held it longer.. it's gone up another 20 points since but I can't prise myself off this computer when the charts are moving. I think the market has further to go.. there was a huge reversal on the US and UK markets today after all the help with the Financials from various governments.
