AUDJPY - High risk trade following short term price action

FX:AUDJPY   Australian Dollar / Japanese Yen
22 0 3
1W (Zoom):
Last week Bull Candle. As long as this week doesn't close much lower than current price, I would favor further bullish price action and a possible retest of the double top RL             . Even a 'test' of the Red SL ~ 78.65 would make that bias invalid.

Conflicting price action on 1D chart. The current candle, although important to note isn't complete yet, isn't following through on previous candle's bearish price action. The conflict makes this trade higher risk. I wouldn't base my trade on this chart.

I'm long, however this is NOT a high conviction trade. This is a higher risk trade due to conflicting data and incomplete candles on D & W charts. The R/R is appealing, but I will be closely watching. Any bearish candle close on 4H (and maybe 1H) would be reason to close trade. I'm following short term price action and we know that can change very quickly.

Trade active:

Adjusted SL to slightly above break even. Bears are struggling to gain control. Hopefully that will inspire more bullish price action.
Trade active:

A solid close and strong move above 79 could signal a move to ~81 and possible retest of double top resistance. However, another failed attempt to close above 79 or reach a new HH above ~79.2 could indicate it's time to go short.
Trade closed manually: Closed early for very small 10 pip gain.

KEEPING SCORE: Win / Neutral
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out