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perse

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perse

Re: None

Wednesday, 09/08/2010 9:12:15 PM

Wednesday, September 08, 2010 9:12:15 PM

Post# of 67
Trade #7

GBP/JPY, short 2K @ 6:41pm EST

Entry: 129.84
SL: 130.60 (just above prior resistance; as well, I wanted to set my SL above the psychological barrier of 130.50] (76 pips)
TP: 128.60(almost 2:1 PL) (124 pips)

Reason for entry: trading with the trend, entry on retracement

NB: SSI is at an extreme here. I'm thinking there are a lot of retail longs, yet a lot of institutional shorts...who's going to win in the battle of bulls and bears??? I'll put my support behind the institutional shorts anytime.
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