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AUDJPY Short Setup
Australian Dollar / Japanese Yen
Short
AUDJPY Short Setup
By gibbsys
Follow
Follow
Mar 31, 2021
4
Cheer
Cheer
Mar 31, 2021
Trend: Bullish (ranging on 1hr)
Structure: Head and Shoulders with Bearish Divergence on the MACD
wedge play also possible
Plan:
We identify a head and shoulders pattern on the 4hr timeframe, however this could also be seen as a wedge.
However taking the head and shoulders we have extra confirmation by bearish divergence on the MACD
ideally we would wait until neckline has been broken before entering the trade
Head and Shoulders
popular
Supply and Demand
Support and Resistance
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