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

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

Note

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

Note

Backup on the 1H time frame:

Note

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.

Note

Stop loss placed further above entry to maximize profits.

Previous

Current

Note

Stop loss moved up again to maximize profits

Note

Stop loss moved up again to maximize profits

Trade closed: stop reached

+122.3 pips

Note

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.

AlgoSurfer

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AlgoSurfer