LogicalTraders

LogicalTraders

Trade Setup for AUD/JPY (1H Chart) Structure: The chart shows a clear bullish bias with a rising trendline acting as dynamic support. Price has recently tested the trendline and rebounded from a key support zone (highlighted in gray), suggesting a potential continuation to the upside. Key Observations: Support Zone: The price is respecting the 97.000...

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Reasons to Enter the Trade: Trendline and Fibonacci Confluence: The price is respecting a strong upward trendline. The 61.8% Fibonacci retracement level aligns with the trendline, providing strong confluence for a potential reversal. Stochastic Oversold: The stochastic oscillator indicates a potential upward reversal as it climbs from an oversold...