AUDJPY Long 2:1 RR Day-trade

After previous trade failed to keep going short, we mentioned that we'd likely get a bullish 1H candle (that at a time was against us).
Well now price is printing a possible quick Long.
Already in.

Trade active

We're in at 94.095. 7.2 pip stop.
Very tight.

Note

Good 4M close. Keep holding. May very well go to target.

Note

Good movement.

Note

Golden Cross. Pretty good overall looking. 1.3 pips till 1:1 target.

Note

1:1 reached and banked. Also moving stop to 94.070 the remainder of a position.

Note

Not ideal, but we're hanging now - 0.5 banked and stop is moved already.
So from that point no need to make further decisions: price either drops to stop, or goes to 80%-target area. Will update when that happens. 15 minutes till end of session, not much else is going on.

Note

Very well moved. Waiting for price to touch 80% (the next dashed line) and be looking for exit already. 5 minutes till end of session. No more new trades, just finishing the management of this one.

Note

Touched. Now decisions are simple: either just holding and it taps our target at 94.247, or it closes below that dashed line (second from top) and we manually close for a little less. Great trade, and great catch.

Note

^^ Will be basing this decision based on 4M as it's not that tight as previously.

Note

90 seconds left.

Note

1M dropped, it is what it is. Waiting this last minute as that is when 4M closes.

Trade closed: target reached

Closed for +1 total. Not bad. Finished the day with +1.07. Not bad.

Note

See you tomorrow.

On to the next one.

Lightwork_

Note

(This is why I like taking profits as I do at 80%/target)

Price turns around and it constantly feels much worse when it moves down vs. how it feels better if it goes up.
Locking profit is also EDGE. Huge.

Lightwork_

Lightwork Trading

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Lightwork_

Lightwork Trading

Also on: