4HR SELLING POTENTIAL ON AUDJPY

Price is really showing potential for bears to dominate the market on the 4HR. At the moment, price is sitting at a zone of support and will most likely retrace to our entry point. ( i have marked my entry at 50% fib retracement ). Should price get to this level i will be entering bearish ( sell). If price trades lower from where it currently is then i will adjust my entry maintaining a 50% entry point.

You should scale majority of your position out at take profit 1 and allow the rest to ride out risk free.

Entry - Grey price level
Take profit 1 and 2 - Green price levels
Stop loss - Red price level