MEX_Exchange

AUDJPY testing major resistance, prepare to sell

Kort
MEX_Exchange Uppdaterad   
FX:AUDJPY   Australiensisk dollar/Japansk yen
Sell below 89.11. Stop loss at 89.38. Take profit at 88.36.
Reason for the trading strategy (technically):
Price is approaching major resistance at 89.11 (Multiple Fibonacci retracement, horizontal pullback resistance, Fibonacci extension, bearish divergence) and we expect to see a short term correction from this level to push price down to at least 88.36 support (Fibonacci retracement, horizontal overlap support).
Stochastic (34,3,1) is seeing major resistance below 98% and we expect to see a strong reaction off this level. We’re also seeing bearish divergence vs price signalling that a reversal is impending.
Trade stängt: målet nått:
Can we all agree that we kicked ass on this trade? :P

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