+【10/31~11/1 AUDJPY Australian dollar/Japanese yen】(22)
10/31 AUDJPY AUD/JPY
We will summarize from entry to settlement.
Regardless of whether the forecast hits or misses, what matters is whether you can enter with solid risk control and be able to complete the trade, so I share all aspects of real trades daily in this article.
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First, let's assess the environment,
Weekly moving average support and defenses are lengthy. Although upper wicks continue, a bottom seems to have formed, so will it be supported and bounce back?
Will it breakout above the triangular consolidation on the daily chart?
At the Bank of Japan meeting, dollar/yen rises, accelerating yen selling, so considering yen-selling positions.
Since it is in a range, don't focus too much on cycles; as long as it is supported by the weekly moving average, consider buying.
Break above the horizontal white line that is being monitored at the 4-hour level.
In the 1-hour chart, there are about three pullbacks; looking at it broadly, a double bottom forms a reversal after breaking the neckline.
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Now, the entry screen ↓