AUDJPY Timeframe agreement & Price Action for shorts
Mis à jour
Trade idea based solely on timeframe agreement and price action.
Summary:
* daily chart has shown a reversal candle interact which has interacted with a reasonably strong area of resistance
* 4hr chart shows same resistance, but with more contact points
* 1hr chart has broken previous upward price structure and started to show signs of lower lows and lower highs. This helps corroborate that the price could move lower.
* stoploss above yesterday's high
* take profits of around 1:1 to 2:1, reward-to-risk
Summary:
* daily chart has shown a reversal candle interact which has interacted with a reasonably strong area of resistance
* 4hr chart shows same resistance, but with more contact points
* 1hr chart has broken previous upward price structure and started to show signs of lower lows and lower highs. This helps corroborate that the price could move lower.
* stoploss above yesterday's high
* take profits of around 1:1 to 2:1, reward-to-risk
Trade fermée: cible de profit atteinte
Exited profit at 1:1 reward to risk. Slight impact on profitability due to triple swaps, but the idea played out effectively.
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