Monday, May 19, 2008

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

Price Action notes (15 min candles; double stops/targets & half stakes; daily cumulative in brackets)
GBPUSD - SHORT FROM 1.9571, CLOSED AT PIVOT 1.9530 (-25)
EURJPY - SHORT FROM 162.01, CLOSED @ 162.15 (-40)

Daily total 65 pip loss or £325.

System II
CLOSED - GBPUSD SELL @ 1.9543, 30 pip loss
CLOSED - EURJPY - BUY @ 162.27, 30 pip loss
CLOSED GBPUSD BUY @ 1.9596, 20 pip profit
CLOSED EURJPY SELL @ 161.90, 30 pip loss
CLOSED - GBPUSD SELL @ 1.9564, 20 pip profit
May cumulative 40 pip profit (£25).

Daily pivots: GBPUSD 1.9530, EURJPY 162.00, GBPJPY 203.49

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