bruzzese1
Short

AUDJPY Short on trendline rejection, divergence, gartley

FX:AUDJPY   Australian Dollar/Japanese Yen
66 0 4
7 months ago
The AUDJPY             came up to the trend line which has held for a very long time and made a fairly sharp impulse down, indicating to me that there could be a significant move to the downside once more.

Waiting for a 50% retrace of the downward move to enter short. This would also give us a nice head and shoulders pattern.

RSI and MACD showing divergence, especially on lower time frames.

An upward trend line is forming which could provide support so I will keep a close eye on the price action should my trade be triggered and reach this point.

Lastly, there is a larger bullish gartley pattern forming which gives a little more bias to the downside.

Entry: 85.280
S/L: 86.180
TP1: 84.280
TP2: ????

Thanks! Good Luck!
7 months ago
Trade active: Price spiked due to bad data out of Japan, hopefully it is only temporary
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