Elite Swing Trader Trade Signals AUDJPY – 8th August 2019
At the end of every trend, there is a trend reversal… well most of the time at least. And in AUDJPY, we feel that a reversal might be forming as the down trend structure has been broken. The price is now testing the 20 period SMA and we feel that the bulls are ready to come in. We cannot say for sure a reversal is in motion yet but it looks like the bulls are ready to fight back for now.
This is another trade idea generated by the Elite Swing Trader.
A simple way to trade an opportunity is to enter Stop orders and for this trade idea, we will enter our orders as below. Let us have a look at the summary of the trade…
- Buy Stop Order: 72.113
- Stop Loss: 71.558
- Take Profit: 72.724
A good sign that a reversal is about to take place is, especially in a downtrend, is when the lower low and lower high structure is broken. And we are witnessing that in AUDJPY. It might be premature but if a reversal take place, we have our stop orders ready. Have fun in this trade.
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