UPDATE TO AUDJPY LONG SETUP, 21 APRIL 2017

I SHARED A TRADE PLAN ON THIS PAIR THIS MORNING, UNFORTUNATELY IT DIDN’T GO ACCORDING TO PLAN AND MY SL WAS HIT. POST ANALYSIS IS BASED ON H1 CHART BECAUSE I TOOK THE TRADE ON THE H1 CHART.

AUDJPY H1

MARKET IS SIDEWAYS. PRICE ALSO SIDEWAYS AND THE MOVING AVERAGES ARE FLAT. MY PLAN THIS MORNING SAW ME ENTER JUST ABOVE DPP WITH MY SL @ 82.020. PRICE WENT UP TO DM3 WHERE BEARS SOLD, RESULTING IN MY SL BEING HIT AFTER THE PULL BACK FROM DM3 TO SUPPORT INDICATED BY THE GREEN BARS. I WILL WAIT TO SEE WHAT HAPPENS TO THIS PAIR NEXT WEEK.