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On January 30 2024 I posted on social media @AidanFX ” LONG USDJPY at 147.22 Stop Loss at 147.09 Target 1 at 147.48 Target 2 at 147.87
USDJPY 5 Minute Chart January 30 2024
Entered the BUY trade at 147.22 with a 13 pip stop loss at 147.09. USDJPY moves higher to the proposed targets. Target 2 147.87 hit where I closed the buy trade for +65 pips +5% gain (Risking 1% on every trade).
A trader should always have multiple strategies all lined up before entering a trade. Never trade off one simple strategy. When multiple strategies all line up it allows a trader to see a clearer trade setup. If you followed me on social media you too could have caught the USDJPY move higher.
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade.
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