Monday, November 26, 2012

AUDJPY Long Trade Setup AUDJPY Long Trade
 A long trade setup is coming up in AUDJPY on a retracement. 

Its on the touch of a resistance-turned-support trendline. 200EMA is also following up fast and looks like it will meet trendline to provide more support on pullbacks. 

200EMA has supported price on pullbacks and has been a good indicator of trend direction. 

My strategy is to go long on touch of trendline with a stop at break and daily close below the trendline + 200EMA.

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