Thursday, August 28, 2008

GBP/JPY Breakout


Here's that breakout I was looking for. I was napping(4:30-5:40pmHI time), so missed the trade, but it played out nicely.
From the break at 198.88-198.58, that is a range of 30pips in 21minutes. Note my entry would be on the retest and exits on the macd extreme 1min cross or rising stochastics. In actuality that may have been a trade from 198.83 to 198.68(67 being the DS1 i would likely have taken some profits) a 15pip move if i was being conservative. Remember from my earlier example 15pips is all I need a day.

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