Yesterday I posted AUDJPY Trade plan.

This is the follow up of it.

Basically, I am waiting for the Long trade based on H4 double Bottom play.  So I was waiting for the next Higher Low for the entry.

2015-08-11_12-18-03-AJ-2

Out of 3 possible entry points, the 1st one – from WPP (91.37) has been broken.  So the remaining possible entries are

a) from the next support (Fibonacci 61.8%, 90.80 ish)
b) from the triple buttom (89.30 ish)

Personally, I would like to monitor carefully around a) level, as this is Fibonacci 61.8% retracements.

 

As always, please make sure the reverse price action on the smaller timeframe, before entering the Long trade.

 

Happy Tradin’

 

YJ Baik – Forex.Today @ Tokyo

 

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