FOLLOW UP STRUCTURE | AUDJPY

Tendency: Downtrend (Bearish)
Structure: Harmonic | AB=CD
Observation: i. Impulse A-to-B is in harmony with the B-to-C leg..
ii. B-to-C: The B- to-C leg is at 61.8% Fibonacci retracement of the A-to-B leg.
iii. Price yet to test 76.500 zone indicating a possibility of price rallying up from this juncture.
iv. The C-to-D leg is a 127.2% Fib. ext. of the A-to-B move which is also equal to the A-to-B leg in distance.
Trading plan: SELL now or after rally into atleast75.000 zone with TP1 and TP2 (310pips) and SL @ 77.500/78.000zone.
Risk/Reward: 1/2
Potential Duration: 5 to 12 days

** Please note that Stop Loss is subject to individual risk appetite per trade and account size.


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