AUDJPY short with 4x Confluences.
Updated
Confluences listed:
1: Trendline breakout and close on the Daily timeframe
2: Change in market structure and new lower has been formed
3: Break and close below support around the 84.7** area
4: Bearish engulfing candle at support
Summary:
Entry will be taken during the NY session. The trade has a potential RR of 2.5: 1 or more, depending on how deep the pull back is. Target are set using fibs from the high to the low of the breakout candle.
Comment
Market is moving closer to our target. We will continue holding.Trade closed: target reached
Despite price moving back to out original entry point, the trade was still valid due to the stop loss not being hit. Nice RR 3:1Disclaimer
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