Forex is not about making pips, but managing your pips per trade.
There are many different areas in which you can take profit. Advise you back test to see what works best for you and your trading style. You must also take into consideration if you are trading with the trend or against the trend. When looking at trade targets look left at what barriers price may stall at and this helps find areas to target and/or take profit.
Trading With The Trend:
1) Look at most recent high or low
2) Look for areas of support and resistance
3) Find Fibonacci Extension Levels ( you tube, pdf and google information easy to look up and learn from)
Trading Against The Trend:
1) Trending into a Fibonacci retracement levels
2) Trading into a trend-line
3) Trading back to a support and resistance level
* Going With current trend will be easier to make a profit from and to manage risk for too, with trades.
There are many different areas in which you can take profit. Advise you back test to see what works best for you and your trading style. You must also take into consideration if you are trading with the trend or against the trend. When looking at trade targets look left at what barriers price may stall at and this helps find areas to target and/or take profit.
Trading With The Trend:
1) Look at most recent high or low
2) Look for areas of support and resistance
3) Find Fibonacci Extension Levels ( you tube, pdf and google information easy to look up and learn from)
Trading Against The Trend:
1) Trending into a Fibonacci retracement levels
2) Trading into a trend-line
3) Trading back to a support and resistance level
* Going With current trend will be easier to make a profit from and to manage risk for too, with trades.