Hi guys,
this is a crucial zone on AUDJPY and i was monitoring this specific price level because we've had multiple structure points on the daily.
Therefore i was looking for a buying opportunity, since the overall trend is bullish. When i went on the hourly chart i noticed a double bottom formation followed by a break of structure to the upside.
This gives me reason to believe we're heading higher, and i entered at market with stops below the lows, and targets as shown.
If you want to ask questions or share ideas, feel free to comment below.
Otherwise, see you in the next chart!
this is a crucial zone on AUDJPY and i was monitoring this specific price level because we've had multiple structure points on the daily.
Therefore i was looking for a buying opportunity, since the overall trend is bullish. When i went on the hourly chart i noticed a double bottom formation followed by a break of structure to the upside.
This gives me reason to believe we're heading higher, and i entered at market with stops below the lows, and targets as shown.
If you want to ask questions or share ideas, feel free to comment below.
Otherwise, see you in the next chart!
Trade closed: target reached:
First target reached! Stops at breakeven now