Friday, May 16, 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 (suspended due to higher volatility/wider ranging/spikes; will give out high5 & triple breaks as wider stops))
Pending - GBPUSD SELL @ 1.9460
Pending - EURJPY SELL @ 161.80
Pending - GBPJPY BUY @ 204.20
May cumulative 50 pip loss (£300L).

System II
CLOSED - EURJPY SELL @ 161.90, 14 pip profit
CLOSED - GBPUSD - BUY @ 1.9511, 30 pip loss
CLOSED - GBPJPY SELL @ 203.17, 60 pip loss
May cumulative 90 pip profit (£525).

Daily pivots: GBPUSD 1.9459, EURJPY 162.13, GBPJPY 203.95

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