AUDJPY short trade on 11 Nov. 2021
Pre-Analysis:-
- AUDJPY on a downtrend mode.
- Pullback started on 10 Nov. 2021
- Weakness appear probably no result from effort sign.
- Price broke below the trigger bar as shown on the chart.
- Wait for pullback toward the trigger bar and further sign of strength on 15 minutes chart.
Entry:-
- Entry on no demand bar (approx. 2 pips below)
- Time of entry 10:20am
- Risk 1% out of account balance
- Target at 83.00 (roughly 3R profit)
- Trending system also show downtrend (as seen on the chart below)
Post Analysis:-
- Update, at 4:00pm the trend system still show downtrend. I decided to hold onto the trade.
Update:- (12/11/21)
- Trade finally close for $161.80 profit at 6:08pm (11/11/21)/
- This trade I took with confident.
- I saw the no demand setup after breakfast, and continue to monitor for entry.
- At around 6:00pm I feel that this price may not drop any further and decided to close the trade without wait for my original profit target.
- This prove to be correct decision as price did not move much until the next day.
- I will revert back to take profit at 2R for the next trade until I reach profit target of 10% from original account value to pass this FTMO challenge.
- This trade also cover entire loss of my previous trade.