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AUD/JPY London session possible entry
1. Early large buying
2. Continued buying
3. Lack of supply
4. Automatic Rally/ Testing begins
This is a counter trend trade adding Risk to the setup, I will be managing my position size accordingly. If there is still some supply around I would like to see more buying off the lows. Being a counter trend trade there is more supply around, this is why we need continued buying from Smart Money as they are the ones who will be marking price up for us on the Push. So if we don't see continued buying off the lows SM may have lost interest.
I enter all trades on a low volume push of the initial Automatic Rally
Feel free to contribute or ask questions.
Jack.
