Wednesday, May 7, 2008

STATE OF PLAY (Target/stop loss 20/30 on GBPUSD & EURJPY, 40/60 on GBPJPY - wait for 1 min conf on system 1; capital £20,000, 1.5% risk per trade)

System I
DO NOT TAKE AS NEWS RELEASE AT 9:30) Pending - GBPUSD BUY @ 1.9630
DO NOT TAKE AS CLOSE TO DAILY PIVOT - Pending - EURJPY BUY @ 162.60
CLOSED - GBPJPY BUY @ 206.60, 60 pip loss
May cumulative 40 pip profit (£300).

System II
CLOSED - EURJPY BUY @ 162.66, 20 pip profit
CLOSED - GBPJPY SELL @ 206.05, 15 pip profit
CLOSED - GBPJPY BUY @ 206.40, 30 pip loss (closed around midday)
May cumulative 55 pip profit (£325).

Daily pivots: GBPUSD 1.9706, EURJPY 162.56, GBPJPY 206.48

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