AUDJPY short
Updated
Top down analysis:
D1:
Lower low - lower high on D1 (downtrend)
Resistance level på D1 has been rejected
H4:
Nice pull back on H4 - trendline has now been broken and H1 candle closed past last trendline touch
price not going all the way back to D1 resistance before we get selling pressure coming in
H1:
Bearish Divergence
red candle
Aggressiv SL (last fractal top) for better risk to reward.
Target: 1,618 Fibonacci level
when price candle closes past the 82.080 level I move to break even
D1:
Lower low - lower high on D1 (downtrend)
Resistance level på D1 has been rejected
H4:
Nice pull back on H4 - trendline has now been broken and H1 candle closed past last trendline touch
price not going all the way back to D1 resistance before we get selling pressure coming in
H1:
Bearish Divergence
red candle
Aggressiv SL (last fractal top) for better risk to reward.
Target: 1,618 Fibonacci level
when price candle closes past the 82.080 level I move to break even
Trade closed: stop reached
It is not uncommon that the big players will build up liquidity before the price continues in the trend direction. A lot of small traders will get stopped out in this process. Be sure to read the market correctly and give your stop loss enough headroom.Regarding this tradingview picture we are out for a loss. We learned our lesson and are ready for the next trading setup
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