2018Sep27 AUDJPY D1 Double Top-2618
AUDJPY has been on a downtrend and is currently on the trendline resistance. There is a double top with a break of the neckline and formation of a new swing low. As such, I am placing a sell limit at 82.046 which is the 61.8 Fibonacci retracement from the right top to the swing low. Stop loss is just above the higher (right) top. The take profit target is at the 38.2 Fibonacci retracement from the swing low to swing high (right top). I will cancel the pending order if price goes to TP1 before it gets triggered. Trade details are as follows:
Trade Setup: Double Top-2618
Price Entry 82.046
SL 82.556 | SL pips 51.0
TP1 81.046 | TP1 pips 100.0
RRR1 1.96
Trade Setup: Double Top-2618
Price Entry 82.046
SL 82.556 | SL pips 51.0
TP1 81.046 | TP1 pips 100.0
RRR1 1.96
Trade active
My sell limit order got triggered. (September 28)Trade closed: target reached
TP1 hit! :)
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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.