ICHIMOKU FOREX TRADING JOURNAL

EURCHF short trade yesterday

By Soheil on June 4th, 2010

Although most of the pairs i trade were bearish at the time i entered this trade, but EURCHF was the only one that have all the Ichimoku lines lined up correctly and there was also enough room ahead for me to move my stop to break even before hitting a strong support. i did not select the EURUSD because it was almost flat. a pair that normally move 150-200 Pips per-day had only moved 25Pips!!!!

i jumped in the short trade at 1.4072 with my stop loss at 1.4161. i decided to tighten my stop a little bit to protect myself a little bit more.

the first 10 hours was agonizing. it was moving 3Pips up and 5 Pips down. it could be expected due to the fact that it was a day before NFP release and EUR was under heavy pressure.

i closed the position the next day (Friday) an hour before the NFP report with 128Pips profit. price dropped 200 +Pips but rebound almost 100 Pips before i got to my platform. i decided to bail because NFP was on its way and also the size of the candle and the lower wick was huge.

i exited at 1.39441.

charts are attached for your study and comments.

Cheers.