AUDJPY 240 long opportunity – 21-78 EMA cross

This pair seems to be exiting a period of consolidation from 6 Aug 2019. Prior to that, it had been in a DT since 16 April 2019. As it is exiting the consolidation, a cross in the 21 and 78 EMA’s has formed. If it breaks and closes above the SR @ 72.930 (last LH in the DT), I’ll be looking for a long trade as shown, with the SL at the 78 EMA level. The trade as shown gives a RtR of 1.89.

I marked the RSI and PA trendlines for reference, but I am not yet sure about their validity.

Transaction en cours:

* RSI did not break trendline
* 21 - 78 EMA cross

=> Small trade per SR's for TP and SL
=> RtR approx 1.3

Trade fermée manuellement:

Trade closed manually. Approx $32.33 win. Missed recent high point of PA near TP. RSI break forming.