JPY AUD downside move possible Selling below the 0.070393 Stoploss 0.010550 Target 0.010162
AUDJPY BUY at triangle breakout targets given good buying opurtunity on this breakout
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OCT #24 Risk 0.5% TP1 = 1:2 RR Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market...
Reason for long a) Triangle breakout b)2Gset up c) open=low d) PDH and near weekly breakout e) vwap set up f) channel support SL compulsory
refer chart for details Pair name : audjpy Timeframe : Daily
As I drew in the chart, there is daily resistance that involve the H1 demand zone, this kind of confluence can make a decent long opportunity.
-After the full week downside the AUDJPY moved upside with the help of NFP data and reached near the supply zone -Before moving outside for healthy movement need a small retracement for the next round of upside -the levels are marked on the chart -in this situation, both sides move could be possible. -for the long need to break the 97 psychological mark and for...
Reason for short a) HSP Breakdown b) Breakdown pull back set up c) channel bearish territory d)Super trend negative e) Triangle breakout failure f) Good risk reward zone SL compulsory
Reason for long a) pole and flag set up b) Mr.Q set up c) powered by super vwap d) channel set support e) trendline breakout g) weekly breakout SL compulsory and good risk reward zone
- FXOPEN:AUDJPY Making a lower high on daily TF means it is trying to retest the near-demand zone marked in the chart. -Every bounce is a long trap/ sell on rising until it breaks the recent high of 95.140 prices. -It is in the channel. Just sell on rising recommendations. -All technicals are marked in the chart.
The inverse head and shoulders chart is thought to predict a bearish-to-bullish trend reversal and signals that a downward trend is nearing its end
The idea here is to wait for longs, once the price tapps my marked zone. Currently, price is in the process of making a new HL.
AUDJPY 4 Hour Analysis (21 August 2023) 1. Price is in demand area 2. Also, we can see the price following a trend line 3. So, if the price breaks the trend like, then with retest we can go for sell 4. If price respects the demand area, we will go with buy and first TP will be next base
Mitigated to our 4H POI and formed a 15Min Change of character. Also taking a weekly support and change of direction in 4H Change of character. Looking for a potential Long trade.
Such a good price action and pattern let's see to going trade in our favor to good to practice on chart