GBPJPY – breakeven trade

I was too tired to update my trade last night but I had shorted the GBPJPY at the red arrow. The Japanese candlestick shooting star was the indication for me that the prices were going lower and I had set a stop at 50 points and actually was looking at 150.90 as an exit which was just above the previous low made a few days ago.

The market moved nicely down and when it moved 50 points, I moved my stop to breakeven and left it. However, it bounced up and hit my stop for zero points which was quite annoying as it was +80 up at one stage. Further to this, the market is now trading at 150.40 which would have been a very nice trade for me if it had gone in my direction.

All in all however, I am beginning to become happy with my trading… I am finally seeing encouraging results..

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Category: Forex trading, Spreadbetting, Trading