Forex blog – JPY forex fan

A forex blog about making pips in any currency pair

Welcome to my forex blog. I am a great believer in luck and I find that the harder and smarter I work the luckier I get. :-)
August 16th, 2010

Trade #52: Sell EUR/USD @1.2795

jpyforexfan

It’s 05:50am GMT. I just opened a short position in the EUR/USD forex pair.
My Stop Loss is @1.3001 as per my trading plan
My Take Profit is: 1.2200

The downtrend should persist… I was wondering whether to open a long in USD/JPY but I will abstain for now.

Here’s the 4-hour EUR/USD chart:

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