AUDJPY Short
Long term downtrend
Confluence of resistance (horizontal and diagonal at the 71.3 value) => Probabilities align to the downside => Great Reward to risk ratio.
- rising wedge (diagonal resistance)
- horizontal resistance (that spans years)
Observe how price reacts at the psychological level, 70.0
Keep a look out for opportunities (strengthening trend integrity) to pyramid trades as the pair goes in our favored direction.
Tight stop loss. Trade invalidated at 72.0.
Confluence of resistance (horizontal and diagonal at the 71.3 value) => Probabilities align to the downside => Great Reward to risk ratio.
- rising wedge (diagonal resistance)
- horizontal resistance (that spans years)
Observe how price reacts at the psychological level, 70.0
Keep a look out for opportunities (strengthening trend integrity) to pyramid trades as the pair goes in our favored direction.
Tight stop loss. Trade invalidated at 72.0.
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