AUDJPY 520 PIP SHORT

AUDJPY SHORT

Why are we entering?
- Expecting upcoming AUD weakness and JPY strength
- Price is approaching trendline & structure level

What are we waiting for to happen?
- Rejection of the structure level and descending trendline

What is our confirmation?
- Break of RISK Trendline
- Rejection of structure & trendline

Entry 84.1
Safe Entry: Rejection of structure, trendline & then a break of WFB trendline
Risk Entry: Rejection of structure & trendline
Risk Entry 2 : Early break of WFB trendline

Once entered, where will our Stoploss be?
- above the channel support & structure level 84.4 (30 pips)

Where do we take profits?
- Secure profit multiple times along the way (30 pips, 60 pips, 120 pips, 200 pips)
- First TP - previous low & trendline level: 80.4 (370 pips)
- Final TP - Lower structure level: 78.9 (520 pips)

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