Setup:
It was noted that AUDJPY could be rising to the 85 handle.
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence on H1.
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 82.525
SL: 81.974
TP: 83.827
Trade 2:
Entry: 82.525
SL: 81.974
TP: 85.129
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:2.3
TP2 - 1:4.7
Total Risk:
2% or 110 PIPS
Total Reward:
7 % or 385 PIPS
Good Luck :-)
It was noted that AUDJPY could be rising to the 85 handle.
Our setup is complemented by the following:
1. Multiple timeframe trend analysis
2. Divergence on H1.
Approach:
Our trade strategy is as follow: We will open two consecutive trades, they will both have the same stop loss but different take profits.
Trade 1:
Entry: 82.525
SL: 81.974
TP: 83.827
Trade 2:
Entry: 82.525
SL: 81.974
TP: 85.129
It should be noted that once TP1 is hit, we will move the stop loss of trade 2 to breakeven.
Risk & Reward:
TP1 - 1:2.3
TP2 - 1:4.7
Total Risk:
2% or 110 PIPS
Total Reward:
7 % or 385 PIPS
Good Luck :-)
Trade closed: stop reached
-2%
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.