USD/JPY Trade

[FX Baby]

Hi all,

Im just taking another trade, anyone interested in my style of trading email me: fxfisherman@yahoo.co.uk and I'll show you how its done.


The Trade:

sell@107.80
stop@108.15
exit: 1st lot @ 45 pips, 2nd lot I'll let you know or when you feel its time


Good luck!

[didjerdu]

I'm just curious, what possessed you to take a short trade on an up trending currency? Because I looked short as well but went long on E/J and made 43 pips. Are you looking @ 4 H chart and seeing overbought? Kindly fill me in with your wisdom.
S.

[FX Baby]

Hi Didjerdu,

Nothing has possessed me so far...I think I'm a "Divergence Trader", so when I get signals I automatically trade. Thats my style and system.

Looking at how the trade went I wouldn't say it was a bad idea to short the USD/JPY Although I confess I don't get it right all the time, nobody does! But its a profitable system and thats what counts



Good luck with your trades!

[barrooo]

I'd say thats a reasonably good call for a trade based on divergenge as there was bearish divergence on stochs. I must admit I'm still short so potentially looking for reassurance on my own trade!, the 108.50 area seems like it really has some resistance and I'd need to see at least 110 before changing my mind

[didjerdu]

Congrats Baby/Barrooo....you were quite right to short....spot on. Well done. You've got a nice short trend going today. Keep it up! Keep me in the loop.
S.

[FX Baby]

Our first target was hit nicely Thats +45 pips! Now reduce the stop on the remaining lot to 1 pip below entry (107.79) and lets see what happens.

[FX Baby]

Hi all,

Looks like this was another very good trade. I've just closed out @ 106.40! Thats a whopping +140 pips on the second lot! Total= +185 pips! Since I got in a little sooner thats more for me


Keep checking my journal for more trades!






Good luck all!