AUDJPY - Follow The Trend!

11 juin

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈 AUDJPY has been overall bearish, trading within the falling wedge in orange.

Currently, AUDJPY is undergoing a correction phase and it is currently approaching the upper bound of the wedge.

Moreover, it is retesting strong supply zone marked in green.

🏹 Thus, the highlighted red circle is a strong area to look for trend-following sell setups as it is the intersection of the green supply zone and upper orange trendline acting as a non-horizontal resistance.

📚 As per my trading style:
As #AUDJPY approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich