AUDJPY BULLISH TREND PRICE PREDICTION using Fib Tool
AUDJPY is making a series of HHs and HLs aligned with the concept of DOW THEORY and I believe this chart will continue its bullish trend and generate decent profits for me. Additionally, the RSI graph trend is consistent with the price point trend, further strengthening the case for continued bullish movement.
My entry point for this trade is 90.310 using the Fibonacci Retracement tool.
SL is set at 89.968 and my TP is set at 90.652.
To take advantage of this rising trend, I have applied another trade but this time TP 2 is set at 90.994 which gives me a risk-to-reward ratio of 1:1.5 for my 2 trades.
OVERALL RISK: 2%
{
(TRADE 1 : 0.36 : approx USD 90 RISK),
(TRADE 2 : 0.36 : approx USD 90 RISK)
}
REWARD: 3%
{
(TRADE 1 : 0.36 : approx USD 90 REWARD),
(TRADE 2 : 0.36 : approx USD 180 REWARD)
}
My entry point for this trade is 90.310 using the Fibonacci Retracement tool.
SL is set at 89.968 and my TP is set at 90.652.
To take advantage of this rising trend, I have applied another trade but this time TP 2 is set at 90.994 which gives me a risk-to-reward ratio of 1:1.5 for my 2 trades.
OVERALL RISK: 2%
{
(TRADE 1 : 0.36 : approx USD 90 RISK),
(TRADE 2 : 0.36 : approx USD 90 RISK)
}
REWARD: 3%
{
(TRADE 1 : 0.36 : approx USD 90 REWARD),
(TRADE 2 : 0.36 : approx USD 180 REWARD)
}
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.