JLJ002500
Long

AUDJPY - High risk trade following short term price action

FX:AUDJPY   Australian Dollar/Japanese Yen
21 0 2
4 months ago
1W
snapshot
1W (Zoom):
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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.

1D:
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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.



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


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.
4 months ago
Trade closed manually: Closed early for very small 10 pip gain.

KEEPING SCORE: Win / Neutral
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