Seizing the Opportunity on AUDJPY Triangle Exit or Entr
"Capturing Potential Gains: AUDJPY in the 1-Hour Channel, Triangle Formation, and a 1:2.65 Risk-Reward Ratio Strategy.
Currently trading at the upper boundary of its channel on the 1-hour timeframe, nestled snugly between the 50 and 200 EMA lines. The chart reveals a triangular pattern forming.
You have two options.
the patient approach: Wait for AUDJPY to make its move out of the channel, then re-enter upon a retracement.
for the more aggressive one. Seize the opportunity now, while the price rests near the channel's upper limit.
The Risk-Reward Ratio stands at a promising 1:2.65
Set your first Take Profit (TP) level equal to your Stop Loss (SL). When TP 1 is reached, move your SL to break-even, and decide whether to manage your trade manually or wait for TP 2 to hit.
"Remember, your Stop Loss is like wearing a helmet while riding a bike – it's your essential protection in the trading journey!"
Currently trading at the upper boundary of its channel on the 1-hour timeframe, nestled snugly between the 50 and 200 EMA lines. The chart reveals a triangular pattern forming.
You have two options.
the patient approach: Wait for AUDJPY to make its move out of the channel, then re-enter upon a retracement.
for the more aggressive one. Seize the opportunity now, while the price rests near the channel's upper limit.
The Risk-Reward Ratio stands at a promising 1:2.65
Set your first Take Profit (TP) level equal to your Stop Loss (SL). When TP 1 is reached, move your SL to break-even, and decide whether to manage your trade manually or wait for TP 2 to hit.
"Remember, your Stop Loss is like wearing a helmet while riding a bike – it's your essential protection in the trading journey!"
Comment:
TP 1 HIT, SL for TP 2 to breakeven