AUD/JPY - Long
I believe this is my first bullish trade i've posted on here which isn't really a shock as i would say a good 80% of the trades i take are shorts, anyway to the point....
Potential ABCD pattern in play on the daily chart with the 78.6% retracement could extend to the 1.618 extension as we have a bullish engulfing from Fridays close on our C leg as well has a hammer on the weekly chart so ive set a limit entry just above the engulfing candle with first target to at the upper trendline and second target to the 1.272 extension although i would expect this pair to trade higher in the long term.
Entry - 96.961
Stop - 94.906
Target 1 - 100.952
Target 2 - 104.861
Potential ABCD pattern in play on the daily chart with the 78.6% retracement could extend to the 1.618 extension as we have a bullish engulfing from Fridays close on our C leg as well has a hammer on the weekly chart so ive set a limit entry just above the engulfing candle with first target to at the upper trendline and second target to the 1.272 extension although i would expect this pair to trade higher in the long term.
Entry - 96.961
Stop - 94.906
Target 1 - 100.952
Target 2 - 104.861
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