AUD/JPY Short Setup Forming

Looking at the daily time frame we can see that price action has been in a down trend for a while now. PA (price action) has been ranging in a descending channel. PA is below the 200sma which is always key for short positions. It increases the odds of a successful trade. You can see from the risk reward on the screen that this is a good/ high probability trade ( in my opinion).

If it breaks to the high side then the validity of my trade is void and the position will be closed.

Remember proper position sizing and risk management is EVERYTHING!!! Good Luck!!