AUDJPY short with 4x Confluences.

Nov 5, 2021

Confluences listed:
1: Trendline breakout and close on the Daily timeframe
2: Change in market structure and new lower has been formed
3: Break and close below support around the 84.7** area
4: Bearish engulfing candle at support


Summary:
Entry will be taken during the NY session. The trade has a potential RR of 2.5: 1 or more, depending on how deep the pull back is. Target are set using fibs from the high to the low of the breakout candle.

Nov 10, 2021

Note

Market is moving closer to our target. We will continue holding.

Nov 19, 2021

Trade closed: target reached

Despite price moving back to out original entry point, the trade was still valid due to the stop loss not being hit. Nice RR 3:1