AUDJPY: H1 Buy

Prices seems to be in a range since the start of 2019.
It can be seen that prices have hit a major H4 zone within that range which has previously shown a reversal.
In this chart, it can be seen there has been a strong down move but a long wick candle was printed when prices hit this H4 zone.
Therefore we will look to have a bullish entry as I believe a reversal will happen, as shown previously
Enter on a bullish candle with 3 different TP.
Each TP is just below each of the H1 minor zones onto the next H4 zone.
SL is set just below the H4 zone.

Please note I'm just using this as practice, for the future.
If there is anything else I can improve on please let me know.
Always learning. And probably wrong lol.
Cheers.

Trade active:

TP1 hit.
Possible strong zone as there was quite sensitive movement when prices reached there.

Trailing Stop set at 78.000.

Trade active:

Trailing stop moved to 78.400

Trade active:

TP2 hit.

Move last position trailing stop to 78.600 and let it play out. Either hit the last tp or trailing stop.

Comment:

Note to myself, this is a great example of waiting rather than trying to enter into minor zones as I usually do. I need to wait for prices to reach a major H4 zone before entering a trade. There is no need to rush for an entry (patience, patience, patience). Wait for a signal and time it correctly.

Maybe I should look into more range bound trading setups at key H4 levels.

Tbh very happy with how this played out. I will need to keep a note of this trade for future references.

If there is any feedback on what I can improve or possibly missed out on, please leave a comment, it'll be appreciated.

Trade closed: target reached:

Trailing stop hit. Trade closed.