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gibbsys
May 25, 2021 11:04 AM

AUDJPY Short Setup Short

Australian Dollar/Japanese YenFXCM

Description

Trend: Bearish (short term)
Structure / pattern: trend lines, support and resistance.

Plan:
We have identified a descending wedge, however the trade set up is price bouncing off of a upper resistance level and the upper trend line leading to a predicted bearish move.

Trade active

Comments
a9xjt8tdfy
What would your tp be?
gibbsys
@a9xjt8tdfy,

TP is normally set at 0.5 Fibonacci level so 84.32.

The stretch TP is represented by the green box on the chart (84.0)
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