AUD/JPY Long Trade Pending

Order details:
Entry price: 78.154
Take profit: 78.807
Stop loss: 77.720

Risk to reward 1.5:1
Here we might even go bigger because next resistance level is far away.

Daily trend is up – so we are looking to buy.

Chart on H4

Price has retraced back to the support area. Two candles inside the red circle show signs of indecision. This means that price doesn’t have enough power to smash through support and might turn around and go up again. So we place a pending order a little bit higher than those indecision candles.

Leave a Comment

Your email address will not be published. Required fields are marked *