Alvin335
If the market is bullish on higher timeframe it must come down to the "take profit" area to make a "higher low". if the market is bearish on higher timeframe, then we hit our take profit anyway, but then we could had moved it even futher down. but thats why i have placed my "take profit" just where it is now, so we could profit undepended of what the higher...
Why i like this trade: 1. it has reacted to daily timeframe moving avarage. ( simple moving avarage 55 )
Idea for sellsetup on the currencypair; aud/jpy have a good trading week :)
Instead of trailing stoploss to break-even when price hits yellow line, --> you can move stoploss to red line when price hits yellow line. then you earn something if your trade were to hit your stoploss. ( wich it probably will not )
i know it looks like a sell, but its not a sell yet.