Live Trade 42:
Short GBP/JPY
technicals will follow tomorrow
LT#41 UJ is now at break/even with stop at entry price 111.20 
LT#40 stopped out at b/e
only open trade now is LT#41 usd/jpy which is also at b/e
LT40 AUD/CAD closed at b/e upon break of inner trend line
LT41 USD/JPY closed at +45 pips upon formation of a Day Hammer at the 786 of most recent minor upswing. It appears to me that the U/J wants to go back up to the 618 after having fallen from the 382
LT42 GBP/JPY closed at +100 pips although it later hit our original target at 200 pips 
LT43 EUR/USD just entered last night at 106.62 and at 30pips risk
upon a daily ham at the 88% fib of the latest upswing and what appears to be a Right Tip of a reversed crown, I have now reverse my position on the USD/JPY after a +45pips on trade #41
we will soon see if I am wrong or not…:):47:
I have also updated the first target for the EUR/USD long trade #43
LT44 U/J stop is now at 110.48
correction on stops:
eu stop 1.0632
uj stop 110.06
gj stop 137.35
after some significant market movement I pretty much have spent most of my morning defining my new stops and profit targets for each current open trade (#43, 44, 45)
as shown…
a lot of times I set a long term target for my trade, i use this as my “mental target” which is not fixed. as in previous trades, if I see the market breaking a trend line or a reasonably significant candle + fibonnacci contrarian formation, I would decided then whether to get out of my trade or to move my stop to b/e or so forth
as per some of my rules (which I will be revisiting soon since I am now approaching middle point T#50) I am still facing the difficulty of balancing moving my stop to b/e too soon versus moving it at the right time to avoid letting a profitable trade turning into a losing trade
I am mostly familiar with the GBP/JPY, as per my initial set of rules, I used to mainly trade only the GBP/JPY it was only since Aug ish after the big fall of the pound that I needed to look for other crosses. however, I am not happy still as to which timeframe or method best apply to the other crosses like a/u, u/j, e/u etc so this part of my trading is still in its infancy.
I hope to do more back testing and research to define a much clearer strategy for the near future
I am considering to focus on GBP/JPY using all my basic tools (trend lines, candles, fibonacci) plus some patterns like crown -which has made me the most money by far and add others like flag/triangle/wedge break outs and double tops/bottoms and even rbi divergence. I rather apply the later methods to the cable than trying to master other crosses
I strongly believe that each cross behaves differently and I rather focusing on knowing “one child” than having too many children and not knowing them well enough!
anyway happy trading:)
[B]CHALLENGE TO DATE: +249 PIPS[/B] :59:
it is not that easy to update trades live…the market moves so fast!
anyway, I have closed the three trades I had open with
eu -36 pips (stopped out)
uj 0 pips (b/e)
gj +60 pips…after the announcement our tp got bit
new trade long g/j at risk 35pips target 70 pips
trade 47 now at b/e
another nice quick trade with the gj…
it had also made a crown right tip as I was expecting it however, I didn’t wake up at 5:00am to enter a second trade…never mind it is good to know that I was right…
we now have all trades closed with the pound yen hitting our 2x target at 137.97 just now…
happy trading
stop moved to 138.27 (33 pips risk for the current gj t48)
I feel this was a better place for the trade given that it is closed to a long tern down trade for which I want to be above it…
Target hit at 137.61