Pound was spiking pretty hard, had broken one level of resistance and looked poised to break more. JPY was down for the second day in a row, as were equities. Both had a bit of a rally in the middle of the day, so I sat out for a bit, but in the afternoon, I noticed on the JPY RSW chart that these were starting to move opposite again.
When I got to this chart, it wasn’t the prettiest bull pullback, but there was a definite pause in volume and looked like a great place to put an entry.
Entry – 143.31
Exit – 143.722
It took a couple more hours, but later in the evening, this pushed up enough to trigger me into the trade. It mostly based after it triggered, though it did push up some, but never really enough to reach 1R. I went to bed with that being the case.
I checked a couple of times in the middle of the night, but it was the same story. When I woke up this morning, though, I had the notification from Trading View that 1R had been hit, so I quickly moved my stop to break even.
Throughout the morning, price kept creeping closer and closer to my target. When it got to within 5 pips of my target, I started following the SAR with my stop on the 15min. Chart. I was able to move my stop to over 40 pips of profit before price pulled back enough to stop me out. I liked this trade a lot.
