GBPAUD 4H Long - E1.805; TP1.837; SL1.790; RR1.96

Entry: 1.805
Take profit: 1.837
Stop loss: 1.790
Risk/reward ratio: 1.96

Trade active

Trade active:

Placed stop loss above entry level to secure gained pips. This turned the trade into a zero risk entry.

Comment:

We could see a breakout up or down as we're seeing a Symmetrical Triangle pattern on 15m time frame.

Comment:

Backup on the 1H time frame:

Comment:

Breakout is happening now as we speak on the 1m time frame, to the up side. Now waiting for confirmation, a close outside the Symmetrical Triangle. Therefore I might move my stop loss up again to lock in more profits.

Comment:

Stop loss placed further above entry to maximize profits.

Previous

Current

Comment:

Stop loss moved up again to maximize profits

Comment:

Stop loss moved up again to maximize profits

Trade closed: stop reached:

+122.3 pips

Comment:

Still managed to make a nice prognosis of how the chart has moved up since I first posted this Idea on november 16th. I am really gaining more confidence on doing TA's and working with trendlines, support and resistance and some of the harmonic patterns like triangles and wedges.

I'm gonna keep practicing on my FXCM demo account at least until christmas. But one milestone which I think can be celebrated is: Yesterday I had my first day with all my trades in the green for at least 24 hours. After practicing and learning about TA a few hours in the morning and a few hours in the evening for the past two weeks or so. So still learning and a lot to learn, but I'm gaining more and more insights while practicing on the job.