TOC
EURJPY
- Currency Pair: EURJPY
- Position: buy
- Lot Size: 0.1
- Risk/Reward Ratio: 1.20
- Profit/Loss: +\3000
Entry Rationale, TP and SL Level
4h
1h
15m
A long entry following the major upward trend on the 4-hour chart.
An uptrend is also present on the 1-hour chart, and the price has approached the lower boundary of the channel.
Additionally, since a range had formed on the 15-minute chart, I placed a buy order near the range’s lower boundary.
The take-profit target is set just below the recent high on the 4-hour chart.
The stop-loss is planned for when the price breaks below the pullback on the 1-hour chart.
Trade Review
Since an important U.S. economic indicator was released, I closed the position beforehand.
The resistance line just before my target take-profit level was strongly respected, and the price did not reach my limit order, so I closed it at market.
