AUDJPY, unsure on this one. The trendon this pair is certainly bearish so IF i do take this trade then i will be taking it with a smaller risk % and going in with eyes on the charts.
This is on the 15m chart so my idea behind this one is we have found a level of structure which we can see initially broke but soon come back up. So for me to look to enter longs on this i would like a strong bullish candle closure back up through the zone which i will then look to get into the trade. As this is on the 15m chart i would expect it be reach the next structure above fairly quickly maybe a couple of hours before i would take out a preferred sell position following the trend. Could be a fun one to watch next week this pair.
If we continue to fall, i will class my buys as void and will wait for price to either reach back up to the 94.674 level of wait for further lows to be made and for more price action to happen before ananlysing further.
Remember, you do not have to always be in a trade and if you are unsure on what is happening with the pair it is better to hold on to your capital than risk it by hoping it will turn in your favor.
This is on the 15m chart so my idea behind this one is we have found a level of structure which we can see initially broke but soon come back up. So for me to look to enter longs on this i would like a strong bullish candle closure back up through the zone which i will then look to get into the trade. As this is on the 15m chart i would expect it be reach the next structure above fairly quickly maybe a couple of hours before i would take out a preferred sell position following the trend. Could be a fun one to watch next week this pair.
If we continue to fall, i will class my buys as void and will wait for price to either reach back up to the 94.674 level of wait for further lows to be made and for more price action to happen before ananlysing further.
Remember, you do not have to always be in a trade and if you are unsure on what is happening with the pair it is better to hold on to your capital than risk it by hoping it will turn in your favor.
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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.