A quick update on these trades.
Although I banked 4% on this trade, with the benefit of hindsight I should have stuck with my rules and waited for the target to be hit.
I admit I was not trading with clarity as I wanted the money to much and could not resist banking after being so close to the target.
AJ is now 100pips lower than my target of 75.75. The level is long term support on the daily chart and would have been a second target if kiwi had gone to plan.
Charts below.
AJ 60 min chart
AJ 4 Hour chart showing support.
Kiwi /JPY
This trade was stopped for a loss of 1%
As you can see, the trade is through my target of 58.80 by 90 pips.
If this trade had not stopped I would have held one position and banked the other position at 5%.
The position that got to the target first would have been banked.
Chart below
KJ 60 min chart
I finish this week with a profit of 3%. It should have been 4% and it could have been a minimum of 10%. (hindsight is a wonderful thing) as is FX trading ;-)
I will keep looking for the next strategy trade as they can be and are very profitable.
Have a good long weekend and I will post again when the next strategy trade is identified.
Best Regards
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