AUDJPY - Trend Continuation opportunity @ previous structure
The overall trend of this pair is very bearish. We recently have put in a high put did not violate previous structure.
Last Friday we broke the structure around 84.0 and are now retracing back into it, a nice opportunity to join the trend.
Stops above 85.25 should be sufficient, and the downside potential is pretty big. When looking just for a retracement into previous lows we have almost a 3:1 RR ratio.
Thanks for clicking that "Thumbs up" button if you like the idea and follow me if you would like to receive updates and new ideas.
Good luck !
Last Friday we broke the structure around 84.0 and are now retracing back into it, a nice opportunity to join the trend.
Stops above 85.25 should be sufficient, and the downside potential is pretty big. When looking just for a retracement into previous lows we have almost a 3:1 RR ratio.
Thanks for clicking that "Thumbs up" button if you like the idea and follow me if you would like to receive updates and new ideas.
Good luck !
Order cancelled
Due to a strong Yen the trade was never triggered and orders have been cancelled. Looking for the next One Good Trade.
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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.
Check out my FREE indicator scripts:
► tradingview.com/u/Profit_Through_Patience/
► tradingview.com/u/Profit_Through_Patience/
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.