TrendSetups
Long

AUDUSD - 1H - LONG - Trend Entry Setup - 2 Jul 2020

FX:AUDUSD   Australian Dollar / U.S. Dollar
FX:AUDUSD at a key support zone on the 1H chart.
Trend: Bullish
  • Enter LONG @ 0.6927
  • Stop Loss @ 0.69
  • Take Profit 1 @ 0.695
  • Take Profit 2 @ 0.6978
  • Take Profit 3 @ 0.70025
Trade active: Reached Take Profit 1
Comment: Reached Take Profit 2
Trade closed manually: trailing stop

Comments

Why the 3 tp? Is it because when it reaches one of the highs it will drop?
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TrendSetups rnavarro12
@rnavarro12, Not necessarily! People trade differently: some look at risk vs reward ratio, some take partial profits along the way. I prefer trailing (not shown in ideas) and riding the trend for as long as it goes. 3 tp are areas one can consider closing the trade partially or fully.
Reply
rnavarro12 rnavarro12
Thank you makes sense now
Reply
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