Hello traders.

I'm back from my 6 weeks holiday in Europe and I'm back to trading again.

I'll explain the trade of the week which has banked me 232 pips.
This was trading by looking at the bigger picture but using Simple system for entry decision.
The R:R was 1:9.
Not bad for the 1st trade after a long break.

I opened a long trade on Monday on EURJPY .
It popped up a Breakout signal on the H1.
Nothing new or exciting , right?
Why was this one a significant one then, you ask ?
The hourly Breakout arrow has popped up after a double bottom on the daily.
On Friday the market bounced off of the same level (178.00 ) 3 times. It bounced 1st on Tuesday off that price level.
When it bounced off on Monday again I decided to get in with a tight stop of 25 pips.
Over the years of trading socks and indicies I noticed that price ,after a double top or bottom,
likes to travel in the opposite direction 200% of the range (of point A to point B ) of the previous swing.
With Forex that run more often then not is 150%.
150% extension gave ma a 180.36 price level.
We all know how round numbers seem to be the magnet for the market.
This is where I placed my TP, @ 180.50.
This gave me a 9 times reward to my risk.

Chart is below.