Dollar dominatiooooon! Thanks to the dollar’s recent rally, my long USD/JPY trade hit its original profit target.
A few weeks ago, I told you guys how I bought USD/JPY because I was confident that the Fed will still be hawkish enough to raise rates another time in December and that the dollar’s selloff presented a good retracement opportunity.
It took a while for USD/JPY to see extend its uptrend action. Heck, I even moved my SL to break even when top-tier events like BOJ’s decision and an NFP event could’ve swung USD/JPY in either direction!
— HuckleKiwi Pip (@LoonieAdventure) October 31, 2018
Fortunately, a hawkish FOMC statement kept USD/JPY in an uptrend, enough for prices to hit my profit target a few days ago. Woot!
I’ve gained +150 pips (+0.50%) from this trade, which is SO MUCH FUN because it’s been a while since a pair hit my original profit targets.
USD/JPY is stalling around the 114.00 MaPs rn, but you can bet I’ll be watching for another retracement in case the bulls are in the mood for a longer uptrend.
While I wait for another retracement, I’ll be on the lookout for other good-looking setups. Got any charts in mind? Maybe a triangle on Cable’s chart? Or how about a big reversal on EUR/USD?
Let me know if you’re watching any setups you’d like to share!
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