AUDJPY

If price fails to break below the support zone below, I will wait for price to break above the trend line. When this happens, I will go long on the retest of the trend line.

Stop Loss below: 75.349
Take Profit 1: 76.343
Take Profit 1: 77.862

Commentaire:

Price has broken above the trend line. Buy limit placed at 75.550.
Stop loss still at 75.349.

Since the Stochastic is well into overbought, price might retrace all the way to 75.350. You can put your buy limit order there if you want to be less aggressive.

Commentaire:

Market opened with a gap up. All I can do is wait.If price retests the trend line below, great! But if it doesn't, I will wait for price to break the resistance zone above and look to enter the trade then.

Commentaire:

Trend line retested. Filled in.