Monday, April 13, 2009

Trade Update - GBP/JPY

This trade is now open. Click here for original trade idea. As the chart on the right shows, this trade opened at about 0100 EDT this morning when the pair closed above the upper channel line on the hour chart. We are long the pair at 147.40. It moved up pretty well, and we moved to break even just after 0300 EDT and I put a 20 pip trailing stop on the trade. It has fallen back a bit, but we'll keep our eye on it and see what happens. I'll keep you posted.

Happy Trading!