The pound yen trade analysis. Maximum profit amount.
Today I will analyse the trade with the highest profitability in my account. It was made on February 10 on pound yen pair and reached to 75.5 points. This is not the highest number of points per trade in my account, but due to the lot, it was a record profit of $ 128,857.85.
The MACD indicators on the 30 minute and hour charts showed a buy signal, while the general trend direction on the four hour chart was consistent with this data, but the MACD just started to cross the signal line. The position of the chart above the EMA 200 and 100 lines also indicated the continuation of the uptrend. I set my take profit below the key resistance level of 157.700 and the trade was closed at 157.435, although I could have taken more profit if I believed the trend will expand and reach 158.0.
I was too cautious in this situation, but nevertheless, I completed the trading task and made a profit.