AUDJPY long trade on 18/7/22
Pre-Analysis:-
- Correlation wise AUD stronger than JPY. On fundamental sentiment AUD was strong.
- Entry made during New York session.
- This entry I set to take profit at 2R.
Post Analysis:-
- Able to gain small profit.
- Price slowly went up, but this situation give me warning that this trade might not work very well.
- I decided to close the trade and took small profit out of it.
- It pays off, if I let the trade open surely need to take loss as price went down to my stop.
- Alternative trade was a CADJPY long trade, this trade able to give at least 2R profit. Below is the chart for that trade.
