I looked at quite a few pairs this morning, but the vast majority of them had pushed 15+ pips above their high-base before I got to the charts. I continued to monitor a few different pairs to see if they’d base/pullback and offer me another entry signal. AUD/JPY was the only one, really, that did. I continued to monitor for a while waiting for a strong base, but I didn’t quite put in entry/stop orders.
Entry – 68.705
While I was watching, instead of continuing the base, price spiked quickly. Not wanting to miss out (I had already done my calculations, I just didn’t set the entry order yet) I set a market order and got into the trade right away.
| Entry Order Level |
|---|
| 68.705 |
| Stop Loss Level |
| 68.19 |
| Target Level |
| 69.45 |
Exit – 68.846
Price didn’t do a whole lot after I entered the trade, even going into the next day (Friday). On Friday, when things still weren’t really moving (because it was Good Friday) I decided I’d just exit the trade by the end of the day. At 3:30, I did just that, for a small 14 pip gain.