Entry for the £ / AUD long trade was set on the 4 hour, having used the Donchian Strategy, having an early entry on the 4 hour which activated on the 30th July , a day earlier to the Daily chart, and allowing me to keep a tighter stop loss, and manage the trade Stop loss. I had entered 2 separate 10 k lots 12 pips apart, in order to close out the trades as specific price points if necessary. There was another confirmation for the entry with the break and close of candle on the resistance trend line from the higher 30 th July at 10 am.
Entry 1 at 1.6700 , and followed by Entry 2 , at 1.6712.
At the DNC channels moved up with the price movement it allowed me to reduce the risk from 350 , 296, to 219 pips .
Came out the trade to protect from serious news announcements dues this evening along with ” BIG NFP ” due on Friday.
Considerations to re enter the trade on Monday, as DNC is an open BUY on the daily.
“Lock in your profits ”