I closed out half of my USD/JPY position yesterday afternoon for a +94 pip profit & raised my stop to break even on the remaining half to give it a chance to make it to the full +146 pip target. And an hour ago, when I came back from the gym, I saw that the target had been hit for a combined 4-day profit of 230 pips.

Also, yesterday evening I opened up another long position on USD/CHF (See chart Below). While I’m usually not a big fan of range breakout plays as I just seem to have had bad experiences with them in the past, this one caught my eye for a number of reasons.

1.) The pair had fallen down into a prior known demand area from which prices had previously shot out of.
2.) Not only did prices fail to break down below this area, but they stalled & yesterday, price closed near the upper end of this range
3.) MACD momentum had long since turned higher & we are about ready to get a MACD cross
4.) GreenADX had turned higher and Red ADX turned lower indicating a possible change of trend to upside
5.) RSI crossed 50 to the upside

So I went long with a stop under the low of the range and a target of about 130 pips (the height of the range projected upwards). I’ll be looking to tighten my stop after today and will likely scale out half and let the other lot ride as I did with the USD/JPY trade…stick with what works right?