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MII1502

Multiple Price Rejection on Support Trend-Line

Short
Australian Dollar / Japanese Yen (OANDA:AUDJPY)  
MII1502 Updated   
OANDA:AUDJPY   Australian Dollar / Japanese Yen
Trend Analysis breakout retest
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trendanalysis breakout retest
Hello Guys! Looking at the chart, we have 200 EMA attached for trend confirmation. There is no clear direction yet to focus and we have multiple rejection on the 200EMA and the Trend-Line acting as support, as you already know, a clear Trend tends to move way above the EMA and Trend-Line indicating a clear direction of price action. We have been able to identify a resistance with the upper Trend-Line forcing the price to act in a CHANEL UP. Considering my experience with setups like this, if we see a break below and a retest, the red arrow identifies our entry with target below as first TP
Trade closed: target reached:
Our Target reached successfully, this trade call happened to be a setup I have been familiar with and the moment I saw the setup I knew we were going for a BIG ride. hope you guys enjoyed your profit and let's hope to find other setups with 75-90% accuracy.

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A Multiple CONSOLIDATION on 200 EMA acting as SUPPORT
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Almost There!
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