On April 18 2024 I posted on social media @AidanFX the EURJPY BUY setup chart. The pair was in an uptrend and price moved into the demand/buy zone (Blue) where the buy entry was triggered.
EURJPY 4 Hour Chart April 18 2024
EURJPY 4 Hour Chart April 23 2024
Entered the BUY trade at 163.06 with a 45 pip stop loss at 162.61. EURJPY moves higher to the proposed targets. 1:5RR target at 165.31 hits and is where I closed the buy trade for +225 pips +5% gain (Risking 1% on every trade).
A trader should always have multiple strategies all lined up before entering a trade. Never trade off one simple strategy. When multiple strategies all line up it allows a trader to see a clearer trade setup. If you followed me on social media you too could have caught the EURJPY move higher.
Of course, like any strategy/technique, there will be times when the strategy/technique fails so proper money/risk management should always be used on every trade. Hope you enjoyed this article and follow me on social media for updates and questions> @AidanFX
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