AUDUSD short. Been stalking this trade for a while.
2 x entries plotted out - 1st entry has a 1:6.3 risk to reward (my personal entry)/ 2nd entry makes allowance for a spike with 1:2.6 risk to reward
Lower lot with bigger stops for conservative traders.
Aggressive traders like myself to take caution to the spikes.
Pair unable to make a new low. Other pairs showing strong buyers, or attempts to profit take.
I'm already in for a counter trend trade based on the other JPY pairs. Eur has made recovery somewhat, and GBP should follow temporarily.
Note: High risk CT trade which may fall. Do not place a stop loss and take profit and walk away. For this trade, lower lot size and...
JPY is the investor safe-haven pending USD economy outcomes based on proposed travel restrictions. GBP is severely affected by the current spreading corona virus, and chances of the BGP gaining strength against the JPY today is slim to none.
Aggressive entries - now / correlation from CAD/JPY
Conservative entries - wait for pullback into range
