[Record Purposes Only]
As we can see on thhe 1 hour chart; the trend is switching from down trend to a up trend.
We are looking forward to long in the 1 hour timeframe;
We can also see that the IMPORTANT zone 150 has been tested mutliple time before broken up with powerful candles breaking through the 150 zone, Therefore we can look for possible set up to long the USDJPY @ 150 zone.
The way I am seting it up is by;
For example; If I am doing a 2% Risk per trade of my account
I will place a "testing" trade (half of my risk 1%) at the 150zone which I have already done. Just to secure the entry.
If @ 150 zone, the market is giving me a long confirmation candle such as (engulfin candle, pin bar or inside bar) I will enter another trade with the confirmation candle (1% as well). Therefore it will still be a full size trade of 2% risk of my account and a lowering the risk.
My stoploss will be @149.768
My TP; I will always cut half of my position when it comes to 1:1RR and let the other half position goes as long as possible.
Happy Green week~
As we can see on thhe 1 hour chart; the trend is switching from down trend to a up trend.
We are looking forward to long in the 1 hour timeframe;
We can also see that the IMPORTANT zone 150 has been tested mutliple time before broken up with powerful candles breaking through the 150 zone, Therefore we can look for possible set up to long the USDJPY @ 150 zone.
The way I am seting it up is by;
For example; If I am doing a 2% Risk per trade of my account
I will place a "testing" trade (half of my risk 1%) at the 150zone which I have already done. Just to secure the entry.
If @ 150 zone, the market is giving me a long confirmation candle such as (engulfin candle, pin bar or inside bar) I will enter another trade with the confirmation candle (1% as well). Therefore it will still be a full size trade of 2% risk of my account and a lowering the risk.
My stoploss will be @149.768
My TP; I will always cut half of my position when it comes to 1:1RR and let the other half position goes as long as possible.
Happy Green week~
Note
TP 1:1 is hit , I am going to take profit of half of my position and let the other half position go on as further as possible as this trade currently have 0 risk as I already took half profit so when the market comes back down and hit my stop loss I will not lose any money. Sadly, the market did not give us any confirmation candle at the 150 zone as it just pull straight up, but is okay as we already got in with the trade and hit a no risk trade.
I will still consider to add the half positon that i just closed if the market comes down and give me a confirmation.
Trade active
Second TP hit as well @ 150,837 Closed another half of position
Continue holding.
Trade closed: target reached
Currently USDJPY reaches new high with out trade going 1;3 Risk Ratio, Again Closed another half of my position
I am going to ride as long as possible as I've Move my SL to breakeven as well. Basically a 0 risk trade.
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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.