AUDJPY - Short Trade Idea on a Double Top
AUDJPY
There are several reasons to consider a short position on this currency pair:
1. Bearish setup with the moving averages;
2. Double top formation;
3. Green moving average working as a dynamic resistance;
4. Bearish engulfing pattern;
5. Price in a main downtrend.
The risk to reward ratio is 1:2, so definitely a trade to try.
There are several reasons to consider a short position on this currency pair:
1. Bearish setup with the moving averages;
2. Double top formation;
3. Green moving average working as a dynamic resistance;
4. Bearish engulfing pattern;
5. Price in a main downtrend.
The risk to reward ratio is 1:2, so definitely a trade to try.
Trade closed: target reached:
Take profit reached, very good trade.
Find out more at www.itstradingtime.com/