AUDJPY: Good Profit and New Trade Opportunities

Let's look at the 1H chart of AUDJPY. I decided to use this chart to show you how we can trade using reversal signals from the key resistance and support. I want to share with you 2 profitable trade which gave us a good profit. We could risk 1$ in order to get 3$ of potential profit.

The 3rd trade is based on the same idea. If the price bounces from 77.00 resistance, it will be a new trade opportunity for shorting. Stop orders should be used above the local swing low, and a profit target should be placed at the support.

Risk per trade must be no more than 2% of the capital.

I want to draw your attention that all these 3 trades are based on the same setup. If you know how to trade this setup, it means you will be able to trade by yourself, catching the same movements in different markets and timeframes. Of course, there will be trades closed by stop, but it doesn't matter. What's really important? Knowledge of how to get benefits from different market conditions!

Knowledge = Superpower, don't forget about it!



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.