July 11th

Trade 1 CHFJPY Long (+18 pips)

A small return on this trade, I am always looking for a chance to get long Yen Pairs and this opportunity looked quite promissing.  Price spiked into the pre determined entry point and moved quickly to the partial profit line which is always the 50% retracement line of the previous wave.  Marked by the red line on the chart, it carried on another 30 pips before turning lower, the system had moved stop loss to zero which was hit.  One of the main goals of the system is to take partial profits as soon as possible and allow the rest of the trade to run.  I have uploaded a 5 minute pictre of the trade, i never use this short time fram for trading but it does show how the price reacted at the blue inflection box (the key turning area) hit partial profits andthen fell back