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AUDJPY CONSOLIDATION POSSIBLE RESISTANCE RE-TEST. BEAR RUN

It seems like a Formation, for sell set-up. i’m looking to capture some pips on the way back to the down range.

In a day time frame, the momentum of the signals traveled in a closed consolidation pattern.

Consolidation is the term for a stock or security, that is neither continuing nor reversing a larger price trend. (shown in graph)

After impulse, the signals turned into correction and moving in the consolidation. Inside, whenever the market hit the resistance it fell.

Here,i’m expecting a bearish twist to complete the break-down.

By its previous impact, the drop would be up-to 81.447.

Stay in a positive lane for good sell.

SIGNAL SPECIFICATION

Pair:AUDJPY

Order:SELL

Entry:84.108

Take profit:81.447

Stop loss:84.917

Risk Vs Reward:3.25
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Note:
Trade signals would usually have a risk to reward ratio of 1:2.
It means that, even 2 out of 4 signals hits their SL marks, the other two would have closed with profit.
This allow you to be good in overall pips profit.
Signals are usually inter-day (Based on the daily candle) therefore, trades would usually have a holding time of an average minimum of 24 hours.

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Note: Please leave comments for any query.

Disclaimer: This is my trading experience, it is not an invite or recommendation to trade.

Best
Forextamil

06 Jun 2018 1:53 pm Posted by tamilforex

 
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