Thursday, October 9, 2008

Rally?

Moving stop down an additional 44 pips to just above yesterday's high accounting for a 5 pip spread. On the daily chart, that level also represents the top of a long 'hammer' candle, which should be a great place to go long.

Pending order: Long 3125 USD/JPY at 101.57
Initial stop: 100.97
Initial exposure: 60 pips, $18.75 or 14.02%


Current closed equity: $76.15
Current position: Short 1500 USD/JPY from 105.40
Current exposure: 384 pips locked in, +$57.60 or +75.64%
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