Trade Setup: AUD/JPY – 6 Sep 2016

6 Sep 2016
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6-sep-2016-audjpy

Candle Stick Pattern: Dark Cloud Cover at (1) and Doji at (2)
Confirmation:

  • Stochastic overbought range at (3), also confirming divergence at (3) & (4).
  • Touching outer band of Bollinger Band at (1) & (2).
  • Retesting the resistance of (5) at (2).

Signal: SELL
Entry Point: 78.398
SL:  79.155 (76 pips)
TP: 76.499 (190 pips)

6-sep-2016-audjpy-cont

  • After trade executed at next bar Set SL to break-even.
  • Closed trade at break-even.

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