This is a continuation of my last trade on Aud/Jpy.
Price have broken out of the trendline and is now closing in on it for a potential retest. Price also has the Ema 50 4H helping with confluence along with the overall high timeframe trend.
I am waiting for a touch and confirmation on my idea.
Tradeplan: Wait for touch. Wait for lower timeframe confluence.
SL: 20 pips below SR TP: 100
Trade active
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SL: 98.26 TP: 99.48
Trade closed: stop reached
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Price had a initial bounce. And the next touch reached for my SL. Price is still above the TL but i would need more confluence than that for another go at this long trade.
Plan now is to wait for a break in any direction and trade based on that direction.