We've got
AUDJPY
on the radar for a bullish move, following the higher timeframe's uptrend. The price has been teasing us, inching close to our entry point but not quite making it there—yet we remain on standby for the action to kick in.
Trade Plan:
Entry Point: We're lined up for the entry at the 0.75 Fibonacci level, which is sitting at 97.439. It's the sweet spot that we're looking to engage in, considering the significant reactions this level has seen in the past.
Stop Loss: To secure our position, the stop loss is set below the recent swing low at 96.80. It gives us the buffer we need against market noise while ensuring we're out if the tide turns against us.
Profit Targets: Our eyes are on the prize at the 0 level of 99.057, with intermediate checkpoints along the way. We're banking on the bullish momentum to carry us through, with the MFI hovering above 50, hinting at a buildup of buying pressure.
The bearish money flow observed recently might have some questioning the move, but the MFI's position suggests we're still in a zone where bulls could take over. We've made profits at this entry point before, and with patience, we're expecting the larger move to unfold.
Remember, the key is to let the trade come to us. Let's keep our discipline, manage our risk, and prepare to ride the bullish wave that aligns with the larger trend.
AUDJPY
on the radar for a bullish move, following the higher timeframe's uptrend. The price has been teasing us, inching close to our entry point but not quite making it there—yet we remain on standby for the action to kick in. Trade Plan:
Entry Point: We're lined up for the entry at the 0.75 Fibonacci level, which is sitting at 97.439. It's the sweet spot that we're looking to engage in, considering the significant reactions this level has seen in the past.
Stop Loss: To secure our position, the stop loss is set below the recent swing low at 96.80. It gives us the buffer we need against market noise while ensuring we're out if the tide turns against us.
Profit Targets: Our eyes are on the prize at the 0 level of 99.057, with intermediate checkpoints along the way. We're banking on the bullish momentum to carry us through, with the MFI hovering above 50, hinting at a buildup of buying pressure.
The bearish money flow observed recently might have some questioning the move, but the MFI's position suggests we're still in a zone where bulls could take over. We've made profits at this entry point before, and with patience, we're expecting the larger move to unfold.
Remember, the key is to let the trade come to us. Let's keep our discipline, manage our risk, and prepare to ride the bullish wave that aligns with the larger trend.