Potential Entry
| Item | Description |
|---|---|
| Position | Short @ 80.464 (GoMarkets) |
| Status | Filled |
| Timeline | T2 |
| Confidence of the trade | 75% |
| Initial Target | 79.5 (rising 16MA) |
Technical Analysis
220MA proves to be again a reliable resistance for this AUD/JPY down trend, however price action suggests bull might not be done just yet so if given a dip low enough close to 16MA, it might be wise to take the profit first before betting on a bigger T3 down trend.
If no such opportunity of luxury presents itself, T2 trade can be turned into T3 trade (with potential positions added) for a bigger wave down.
Disclaimer
While we believe in collaboration and working towards a common goal as good thing, it has in the past affected the way we trade so to keep this as consistent and drama free, we will not be replying to comments most of the time to keep this approach as streamlined as possible. You'll certainly see us making comments and upvoting other amazing posts though!
