Big Short Upcoming on AUDJPY
After the long wait I'm back publishing my ideas on this great platform!
For this trade we are relying mostly on price action as this pair is known for having a strong correlation to price action rather than indicators.
After the massive Bull run of AUD, we can finally see the sellers coming in at around 85.427. This is a significant area of interest as the price has been largely rejected here before.
I have also identified a Head and Shoulders pattern on the weekly time frame confirming a sell.
I have my Stop loss and Take profit on the chart however I have already placed my Stop loss at break even to make the trade risk free.
I expect a Sell to the support area of 81.877.
*** THIS IS NOT FINANCIAL ADVICE ***
For this trade we are relying mostly on price action as this pair is known for having a strong correlation to price action rather than indicators.
After the massive Bull run of AUD, we can finally see the sellers coming in at around 85.427. This is a significant area of interest as the price has been largely rejected here before.
I have also identified a Head and Shoulders pattern on the weekly time frame confirming a sell.
I have my Stop loss and Take profit on the chart however I have already placed my Stop loss at break even to make the trade risk free.
I expect a Sell to the support area of 81.877.
*** THIS IS NOT FINANCIAL ADVICE ***
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.