Hi traders
here is my view on AUDJPY. Obvious accumulation phase going on, which in fairness, can be solved either way (up or down).
Given the last impulse on the 4H timeframe though I am bearish and see the accumulation phase as part of a retracement.
However, before I jump into a trade I want to see a clear break below the current support zone on the 1H timeframe - at least!
RR on this one is 1:2. As usual, stop loss goes to break even once price hits 1R profit.
Let me know what you think in the comments below. Good luck :)
here is my view on AUDJPY. Obvious accumulation phase going on, which in fairness, can be solved either way (up or down).
Given the last impulse on the 4H timeframe though I am bearish and see the accumulation phase as part of a retracement.
However, before I jump into a trade I want to see a clear break below the current support zone on the 1H timeframe - at least!
RR on this one is 1:2. As usual, stop loss goes to break even once price hits 1R profit.
Let me know what you think in the comments below. Good luck :)