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UnknownUnicorn73945
Aug 19, 2016 12:25 PM

USDJPY: Spike Base Long New Buy Limit Long

U.S. Dollar/Japanese YenFXCM

Description

This trade is linked with the other USDJPY:


I've palced a different buy limit entry with some adjustments to the trade management - Bias / Setup is still the same (LONG) as mentioned in the previous idea.

Trade Management:
- 2 Trade entries (instead of 1) @ 100.18
- Stop Loss is 99.84
- 1st TP is @ 101.065
- 2nd TP is @ 101.405
- SL will go to Break even after 1st Target is hit

Let's see how it goes...

Trade active

Trades entered @ 100.20

Trade active

Price moving in my direction....

Trade active

Half the trade has been closed other half is SL is going B/E

Comment

Market gap up on open
Highly likely the gap will be closed up
Hence the reason for taking half profit off the table and moving SL to breakeven

Trade closed manually

Some profit made from trade
More importantly NO LOSS through active trade management
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