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.
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.
YJ Baik – Forex.Today @ Tokyo