AUD/JPY: SHORT - YOU DO NOT WANT TO MISS THIS!
HELLO TRADERS! LET'S GET THESE PIPS!
Below is my analysis/perspective on this trade.
Analysis:
- Price is moving in an ascending channel
- Extended W formation pattern identified
- Price is closing in near the upper channel line, signifying a great short opportunity
- Neckline is at 69.394
Trade Info:
1:6 Risk to Reward
Pending Entry order: 70.95
SL: 71.20 -- 25 pips stop loss
Target/ TP: 69.40
These parameters are set correctly. Once we are in profit and there is new bearish structure. I will be manually setting trailing stops.
If price does not trigger our order. We will be entering the trade once we have clear bearish price action signifying the move to the downslide has already begun.
If you'd like to be notified when I close, move trailing stops, enter new trades, etc. Please follow and be watchful for updates on these posts.
Follow, share and leave a like if you agree or appreciate the free analysis/signal. =)
Feel free to comment down below your ideas and opinions on the direction of this trade!
Note** Trading is all about risk management and understanding how to minimize losses. Please do not risk what you cannot afford. Trade responsibly.
Below is my analysis/perspective on this trade.
Analysis:
- Price is moving in an ascending channel
- Extended W formation pattern identified
- Price is closing in near the upper channel line, signifying a great short opportunity
- Neckline is at 69.394
Trade Info:
1:6 Risk to Reward
Pending Entry order: 70.95
SL: 71.20 -- 25 pips stop loss
Target/ TP: 69.40
These parameters are set correctly. Once we are in profit and there is new bearish structure. I will be manually setting trailing stops.
If price does not trigger our order. We will be entering the trade once we have clear bearish price action signifying the move to the downslide has already begun.
If you'd like to be notified when I close, move trailing stops, enter new trades, etc. Please follow and be watchful for updates on these posts.
Follow, share and leave a like if you agree or appreciate the free analysis/signal. =)
Feel free to comment down below your ideas and opinions on the direction of this trade!
Note** Trading is all about risk management and understanding how to minimize losses. Please do not risk what you cannot afford. Trade responsibly.
Comment:
TRADE ACTIVE
Comment:
SL moved to 71.92 --- Which is a little bit in profit near break even.
The trade is already running 30+ pips in profit.
Now we just let it continue to our TP or let it take us out break even.
HAPPY TRADING
The trade is already running 30+ pips in profit.
Now we just let it continue to our TP or let it take us out break even.
HAPPY TRADING
Comment:
I closed the trade at 70.65. For a 30 pip gain. There is negative confluence on the daily time frame. Another push up is expected but there might just be another short opportunity to seek out more profits.
HAPPY TRADING
HAPPY TRADING