Reason for Buying AUD/JPY :
1. AUD/JPY was moving in a downtrend range by forming Lower Highs and Lower Lows in H4 Chart.
2. Breakout Happened at the Top Level of the range.
3. Re-tested previous breakout level and bounces back as per our breakout strategy.
4. After the confirmation of Upward movement, AUD/JPY Buy Signal was given to the members.
Education Notes :
Uptrend = Higher Highs, Higher Lows
In our Signal, AUD/JPY went in a downtrend range, So, Downtrend = Lower Highs , Lower Lows
Why Re-testing the Breakout Level is more important ?
After market Breakout from the range, As per our breakout strategy, If market again Re-tested the previous Breakout level and starts to bounce back, then we can expect big and sharp movements from that Breakout level. This is what happened in this AUD/JPY Buy Signal.
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