Short-term bullish sentiment after RBA interest rate decisions
Hello Traders,
The AUDJPY is trending up and we are now looking for a pullback to enter this trade. This uptrend is driven by the recent interest rate decisions of the Reserve bank of Australia. Even though the interest rate was unchanged, the results were expected worse, which resulted in a bullish impulse on the chart.
Resistances: 79.805, 80.245
Supports: 79.413, 79.165
I set a BUY LIMIT ORDER above the support 79.413 and set the SL below the next support 79.165. TP is set at the resistance 79.805. See the arrows for my graphical projection.
Entry: BUY LIMIT 79.526
SL: 79.06
TP: 80.227 / 79.805 (partial profits)
Trade characteristics: Trend continuation with a limit entry on a retest of support
Expected trade duration: 1-2 days
Risk-to-Reward-Ratio: 1.50
Any Likes or Opinions in the comment section are appreciated. I also post regularly, so if you like my content, make sure to follow me. :)
The AUDJPY is trending up and we are now looking for a pullback to enter this trade. This uptrend is driven by the recent interest rate decisions of the Reserve bank of Australia. Even though the interest rate was unchanged, the results were expected worse, which resulted in a bullish impulse on the chart.
Resistances: 79.805, 80.245
Supports: 79.413, 79.165
I set a BUY LIMIT ORDER above the support 79.413 and set the SL below the next support 79.165. TP is set at the resistance 79.805. See the arrows for my graphical projection.
Entry: BUY LIMIT 79.526
SL: 79.06
TP: 80.227 / 79.805 (partial profits)
Trade characteristics: Trend continuation with a limit entry on a retest of support
Expected trade duration: 1-2 days
Risk-to-Reward-Ratio: 1.50
Any Likes or Opinions in the comment section are appreciated. I also post regularly, so if you like my content, make sure to follow me. :)