Currently bearish on AUDJPY due to higher time frame structure showing signs of weakness. However, I’m exercising patience as I have two key areas of interest (POIs) I’m watching closely:
Primary POI (Point of Interest):
This is a refined supply zone within the premium zone, where I expect price to retrace before giving any bearish confirmation. Ideally, I want to see a clear rejection or distribution pattern here before executing a short position.
Extreme POI (Last Line of Defense):
In case price breaks through the primary POI without a solid rejection, I will wait for price to reach this deeper, more extreme supply zone. This is my most conservative entry area and aligns with higher risk-to-reward expectations.
Trade Plan:
No entry until price pulls back into one of the POIs.
Looking for confirmation (e.g., break of structure, bearish engulfing, supply taking over demand) before executing a sell.
Targeting previous demand levels or liquidity zones below current price.
Stop loss will depend on the POI used, with risk managed accordingly.
Bias: Bearish
Status: Waiting for retracement and confirmation.
Primary POI (Point of Interest):
This is a refined supply zone within the premium zone, where I expect price to retrace before giving any bearish confirmation. Ideally, I want to see a clear rejection or distribution pattern here before executing a short position.
Extreme POI (Last Line of Defense):
In case price breaks through the primary POI without a solid rejection, I will wait for price to reach this deeper, more extreme supply zone. This is my most conservative entry area and aligns with higher risk-to-reward expectations.
Trade Plan:
No entry until price pulls back into one of the POIs.
Looking for confirmation (e.g., break of structure, bearish engulfing, supply taking over demand) before executing a sell.
Targeting previous demand levels or liquidity zones below current price.
Stop loss will depend on the POI used, with risk managed accordingly.
Bias: Bearish
Status: Waiting for retracement and confirmation.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.