The first profit target (P1) on the chart was reached. We exited out with a 42 pip profit. As mentioned earlier, we are going to exit out at P1 because we do not want the headache of going through the Kumo cloud which usually causing consolidation.
The second entry is not set with the Kijun Sen as the Stop (1.6545). Once the second trade has triggered, we will adjust the stop to the new Kijun Sen value. Also, the support values are shown in blue. Once the trade has triggered, we will analyze the charts to determine where to take our profits. We have to be careful because the last support line is very close to a huge Kumo cloud on the daily timeframe. A situation where we do not want to be in a trade through a Kumo cloud.
For EDUCATIONAL USE. Commodity Futures Trading Commission, Forex, Futures, Equity and options trading has large potential rewards, but also large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you can not afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provide d on the Blog is for educational purpose .