Just trading the morning session today as have a lunch meeting in a Cambridge curry house with an ex-colleague travelling in from Sao Paulo. Not many Brazilians like spicy food, so this is his chance to grab some authentic Indian!
Well a great morning trading period for me, which ended with a 1.0% profit and 21 pips. Could have been more if one of my charts hadn’t had the wrong pivot lines on for some reason and fooled me into a trade that was never there. A mixed bag of strategies used this morning on 3 trades. A Pivot Point Bounce to S1, A Trend Break Out and my favourite strategy, the Classic Snapper on the 1m chart.
Below is the Pivot Bounce on AUDJPY which I am most happy with. I entered the trade at 07:23 @ 83.06 after being confident that the bounce would occur. Target was set at 83.26 (just below R1) , and a Stop Loss @ 82.86; so a 1:1 Risk Reward. Move hit my target at 08:30. Along with the 2 other JPY trades this morning.
Below is the chart of the AUDJPY trade.