AUDJPY - SHORT
Why are we entering?
- Price broke the ascending trendline = bearish
- Expecting further AUD weakness & JPY strength = AUDJPY SHORT
What are we waiting for to happen?
- price to retrace back to the structure and EMA
- Waiting to draw WFB
What is our confirmation?
- Break of WFB trendline
- Rejection of structure
- Rejection of EMA
Entry
Safe Entry: Rejection of structure and EMA and then WFB break
Risk Entry 1: Rejection of structure and EMA
Once entered, where will our Stoploss be?
- above the rejected price
Where do we take profits?
- First TP: 83
- Second TP: 81
Why are we entering?
- Price broke the ascending trendline = bearish
- Expecting further AUD weakness & JPY strength = AUDJPY SHORT
What are we waiting for to happen?
- price to retrace back to the structure and EMA
- Waiting to draw WFB
What is our confirmation?
- Break of WFB trendline
- Rejection of structure
- Rejection of EMA
Entry
Safe Entry: Rejection of structure and EMA and then WFB break
Risk Entry 1: Rejection of structure and EMA
Once entered, where will our Stoploss be?
- above the rejected price
Where do we take profits?
- First TP: 83
- Second TP: 81