GBPJPY SR Break to 800 on the 60M setup 24July08 -CLOSED itm

GBPJPY trade that closed earlier has a possible continuation / re-entry if it breaks the old Mesa line at 212.76 that it has been obeying.  If it breaks and profit targets are still in line I’ll take a small possition.  Possible additional possition could be placed if it solidly breaks the 200 with a final target at the 800 SMA on the 60M

25July08 This Trade is now closed.  It hit my profit target pre-European open and promply reversed which is why I was only trading 1/2 my normal size.  I am happy this trade closed profitably and did not reverse before my Take Profit target overnight as has so often happened with this pair.  It did reverse hard as it is known to do.

 Here is the trade setup:             

GBPJPY Mesa Break down to 800 setup

Here is the final chart – 800 hit and then reversal:

GBPJPY Trade Closed 25July08

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