Saravan
Long

AUDJPY Bullish breakout soon?

FX:AUDJPY   Australian Dollar/Japanese Yen
85 7 4
Hello traders,

This pair has been forming bullish daily candles at strong support zone and a triangle. I expect a bullish breakout since the price action and volume suggests break out to the upside. There is also RSI divergence.

Good Luck!
Comment: Price retesting the broken triangle. Another opportunity for long.
Good Job! Bracket taking is also important, what's the suggested range of SL/PT?
Reply
I believe a view has an optimal range. That means even with the same R/R, should I go 20/50pips or 50/125pips...etc. Am I too greedy?
Reply
Saravan gcplau
It's a daily break out. It should go at least top of the range around 86.20. But it all depends if you are a long or short term trader. The first profit taking can be done @81.80 and the stop loss to BE. Stop loss should be below 77.60. Thank you.
Reply
gcplau PRO Saravan
Thanks so much! Very well said.
Reply
...in such case, the chance of going back into the triangle is lower than bounce back up?
Reply
Saravan gcplau
The daily candle should not close below that. Otherwise it's most probably a fake breakout.
Reply
gcplau PRO Saravan
Tks, just don't like that engulfing bar..lol
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out