AUDJPY Short
Disclaimer: This trade idea is for educational purposes only and is not intended to be financial advice, this trade idea is based around my own opinion and analysis and I will not be held responsible for any lost capital resulting from trades taken based on this trade idea, the risk is entirely on you and you agree that I will not be held responsible.
As I have previously mentioned in my previous trade idea on AUDJPY (which you will find linked on this trade idea) , Price for Audjpy was making Higher lows and Higher Highs into our resistance zone which was marked by our green rectangle, I mentioned previously that this would lead me to believe that price would break past this resistance zone that it had found itself in, and if we take a look at where price currently is, price did manage to break past that resistance level (Green Block). Now we did see that price is faltering where it is currently situated but when I took a look at the H4 chart, it looks to me as if the market wasn't able to fulfill enough short orders for it sell off, in fact on the H4 timeframe, it looks as if price is looking for a "Liquidity Grab" before it continues upwards to our purple block, where I am expecting price to sell off from, so that is why I will not short this pair until I see some bearish rejection within my purple rectangle. My take profit remains the same as from my previous post
If you find this trade idea useful, please do drop a like and comment as i would appreciate that quite abit . Thank you for your time and have a great day :)
As I have previously mentioned in my previous trade idea on AUDJPY (which you will find linked on this trade idea) , Price for Audjpy was making Higher lows and Higher Highs into our resistance zone which was marked by our green rectangle, I mentioned previously that this would lead me to believe that price would break past this resistance zone that it had found itself in, and if we take a look at where price currently is, price did manage to break past that resistance level (Green Block). Now we did see that price is faltering where it is currently situated but when I took a look at the H4 chart, it looks to me as if the market wasn't able to fulfill enough short orders for it sell off, in fact on the H4 timeframe, it looks as if price is looking for a "Liquidity Grab" before it continues upwards to our purple block, where I am expecting price to sell off from, so that is why I will not short this pair until I see some bearish rejection within my purple rectangle. My take profit remains the same as from my previous post
If you find this trade idea useful, please do drop a like and comment as i would appreciate that quite abit . Thank you for your time and have a great day :)
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