Here is my analysis for a potential short position I have taken on AUD/JPY.
The original analysis was spotted on the M15 chart showing a large RSI divergence, However the main analysis was done on H1 graph.
My Reasoning for this short is:
- Large RSI divergence on both M15 and H1 graph.
- Large Supply zone hit where a lot of retracements have been before.
- Strong start rejection in resistance zone.
- MACD crossover forming.
- Lower volume on MACD too.
I believe this will be a larger swing position with 2 positions personally taken both risking 1% combined.
Position 1:
Entry - 91.135
TP - 90.112
SL - 91.650
Position 2:
Entry - 91.134
TP - 89.735
SL - 91.854
Both positions holding a 2.00 roughly RR ratio with risking 1% of capital combined.
The original analysis was spotted on the M15 chart showing a large RSI divergence, However the main analysis was done on H1 graph.
My Reasoning for this short is:
- Large RSI divergence on both M15 and H1 graph.
- Large Supply zone hit where a lot of retracements have been before.
- Strong start rejection in resistance zone.
- MACD crossover forming.
- Lower volume on MACD too.
I believe this will be a larger swing position with 2 positions personally taken both risking 1% combined.
Position 1:
Entry - 91.135
TP - 90.112
SL - 91.650
Position 2:
Entry - 91.134
TP - 89.735
SL - 91.854
Both positions holding a 2.00 roughly RR ratio with risking 1% of capital combined.
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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.