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%