Date and time - 26/07/09 10pm
Chart - Eur/Jpy 1HR
Bear Engulfing Pattern observed as previous black candle wraps around 2 candle before it. Went for a short trade and previous high 136.03 was set as stop and profit was set 135.00. Preceedig candle shot up to 136.08 which triggled the stop 136.04. Result in losses of $44.05USD.
Note
1. Spread for this pair is 4 pips
2. Profit should be set at 135.18 which is the next lower resistance
3. Stop should set at 10 pips above last high
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