AUD/JPY: SHORT - THE OPPORTUNITY WE HAVE BEEN WAITING FOR!
Updated
HELLO TRADERS! LET'S GET THESE PIPS!
Below is my analysis/perspective on this trade.
Analysis:
- Price is moving in an ascending channel
- Extended W formation pattern identified
- Price is closing in near the upper channel line, signifying a great short opportunity
- Neckline is at 69.394
- If daily closes below upper resistance line, we will no longer have a daily negative confluence. Which will give us even more confirmation to SHORT this
trade.
Trade Info:
1:5.79 Risk to Reward
Pending Entry order: 71.02
SL: 71.20 -- 25 pips stop loss
Target/ TP 1: 69.841
Target/ TP 2: 69.400
These parameters are set correctly. Once we are in profit and there is new bearish structure. I will be manually setting trailing stops.
If price does not trigger our order. We will be entering the trade once we have clear bearish price action signifying the move to the downslide has already begun.
If you'd like to be notified when I close, move trailing stops, enter new trades, etc. Please follow and be watchful for updates on these posts.
Follow, share and leave a like if you agree or appreciate the free analysis/signal. =)
Feel free to comment down below your ideas and opinions on the direction of this trade!
We won our previous trade securing 30 pips. My apologies for not seeing the negative confluence in time. It is possible that this is the trade we have been waiting for. Let's see where this trade takes us.
Note** Trading is all about risk management and understanding how to minimize losses. Please do not risk what you cannot afford. Trade responsibly.
Below is my analysis/perspective on this trade.
Analysis:
- Price is moving in an ascending channel
- Extended W formation pattern identified
- Price is closing in near the upper channel line, signifying a great short opportunity
- Neckline is at 69.394
- If daily closes below upper resistance line, we will no longer have a daily negative confluence. Which will give us even more confirmation to SHORT this
trade.
Trade Info:
1:5.79 Risk to Reward
Pending Entry order: 71.02
SL: 71.20 -- 25 pips stop loss
Target/ TP 1: 69.841
Target/ TP 2: 69.400
These parameters are set correctly. Once we are in profit and there is new bearish structure. I will be manually setting trailing stops.
If price does not trigger our order. We will be entering the trade once we have clear bearish price action signifying the move to the downslide has already begun.
If you'd like to be notified when I close, move trailing stops, enter new trades, etc. Please follow and be watchful for updates on these posts.
Follow, share and leave a like if you agree or appreciate the free analysis/signal. =)
Feel free to comment down below your ideas and opinions on the direction of this trade!
We won our previous trade securing 30 pips. My apologies for not seeing the negative confluence in time. It is possible that this is the trade we have been waiting for. Let's see where this trade takes us.
Note** Trading is all about risk management and understanding how to minimize losses. Please do not risk what you cannot afford. Trade responsibly.
Note
TRADE ACTIVE: Entry @ 70.96It was already very close to the pending order and I wanted to already be in this trade. There is a possibility it moves up more but I am content with my entry. Now we just wait and see what the market does.
Let's see if this is also a winning trade! HAPPY TRADING EVERYONE!
Note
Setting the trade to break even. Just a little bit in profit near our original entry. These are the trades we love be in! Possible retrace here. Let's see how this plays out.Note
Closed out of trade @ breakeven. This pair simply does not want to drop. Another pending order at 71.02
If it triggers me in the trade, I will not be moving trade to break even until we are more than 60 pips in profit. Since it keeps finding support and pushing back up towards the upper resistance line. I believe once we have our 1st solid daily red candle. Then we can expect for the strong push to the downside.
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