We noticed that AUDCAD broke above downward trend line, it subsequently moved higher within upward channel. Price is supported by FE 100 and bullish candlestick pattern has been identified. We went long with stop loss below bullish candlestick with take profit at where the upper trend channel is. The risk reward ratio for this case is slightly more than 1.
We took profits on NZDJPY and AUDJPY.
We took some profits from BCOUSD and NZDJPY.
Entry was based on a pin bar setup near to 96 level while take profit is at 94.5. The take profit level was the previous low. Similar to AUDJPY, this trade was closed off prematurely since it was nearing the weekend. For this trade, profit is +90pips.
AUDJPY was trending lower but went into a short period of retracement of around 300pips, lasting 2 weeks. Price subsequently broke the short term rising trend line. Take profit level was at 89.6 but we decided to close off the position earlier since it was nearing the weekend. For this position, the net profit was 120pips.
The future belongs to those who believe in the beauty of their dreams.