Here I have a lovely setup for FX:AUDJPY . This setup is risking 30 pips for 400 pips with a Risk Reward ratio of 13.33 which is a crazy return for such a minor risk. This setup will most like reach TP within the next 2 weeks however secure profit when you are happy and don't let greed take over as this could run 200+pips then reverse.
Manage your risk...
EURNZD NOW CLOSED! SELLS NOW VALID!
What is our strategy?
Our strategy is a trend following strategy - that is coded in pine script to use with the trading view platform - the entries are shown automatically! NOTHING is done manually, it can be used on any instrument and time frame. However, we have hard coded specific parameters for when trading the H1 time...
The market is definitely in uptrend, reaching the resistance at 76.467
We expect a short taking our profit at 74.620 (33% Fibonacci, or a TP2 at 73.124, 66% Fibonacci, if the price breakout the support ).
In a situation where the price could bounce on the main trendline, get ready for a long.
Let me know if you like our idea and feel free to reply in the...