[2R Win – Trade setup] Buy AUDJPY on 4H

AUDJPY just had a great bullish rejection / sponsorship from a daily OrderBlock+ and has created a Mitigation+ block on 4H chart. When price comes to this area, we should look for a bullish entry.

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4H trade setup for AUDJPY

Trade setup explanation

Monthly / Weekly / Daily are all bullish

Monthly chart
Monthly + Weekly chart
Monthly + Weekly + Daily charts

Trade confluences

  • Monthly is up (but has just completed an objective)
  • Weekly is up (no breaker yet)
  • Daily is up, is mitigating a multi-candle OB+
  • In discount area
  • Inside daily OB (which was itself formed due to rejection from Daily OB+)

[Update] Apr 19, 11:30 PM PST

We had a nice clean rejection from Mitigation+ block, 1R was hit & we took off 50% volume as a partial profit. This trade is now risk free!

Active trade : 1R was hit

[Update] Apr 20, 8 AM PST

Price hit 2R objective and rejected from a 4H bearish FVG and fell down to hit my stop loss. This trade was a winner with 2R

4H chart. You can see 2R was hit
Daily & 4H charts for reference





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