Long USDJPY (+20 pips)
trade hit the identified entry point and bounced sharply, it madeit as high as 56 pips, target was set at 59 so failed just underneath. Profits taken at 20 pips when it beacame clear that price was not going to recover anytime soon. New trade entries have been issued and the change in price action across all pairs means that it may be some time before we can return to this pair. July results showing 8 out of 9 wins which is very good.
Long CADJPY (+30 pips)
The trading plan is all about buying pullbacks that offer the opportunity to get some profits whilst minimising risk. There is two parts two this the first is choosing the situation to trade and that is the significant advantage of the RetiredEarly trading plan the second is money management. We enter all trades at the point identified by the technicals and then close half of the trade at a set target, this allows the second half of the trade to continue risk free. 80% of RetiredEarly trades make the partial profits target, some go on to make the final target (like the AUDNZD trade yesterday) but most then turn lower and hit the stop. That is what happened with this trade, the different levels are shown on the chart. Of course we would have made more money closing at the high but we had no idea that was the high and it would have been breaking the plan which we never do.
RetiredearlyFX is a trading name of the investment company Bagehotsway.
We are not a regulated company but we only sell regulated products.
We are not authorised to give investment advice.
We believe all figures quoted to be accurate but past performance in no way guarantees future performance
Trading FX is high risk and not suitable for everyone.