AUDJPY Bull Channel / Correction Phase / H4
After sold off in AUDJPY, it returned back to bottom of Weekly TR.
Then price got nice support there and strong bulls came.
They went up and broke the bear trendline, retested the broken trendline ( Higher Low ).
Then trend resumed. The current market cycle is broad bull channel.
December 20, 2021, beginning of previous week was start of current bull impulsive leg.
If you check H1 timeframe you notice the rising WG at the end of this bull leg.
Beginning of this WG can be possible target for bears.
I expect AUDJPY to fall down and complete correction of this bull impulsive leg.
Fibonacci levels + Trading Zone ( Gold ) is where that correction may get ended.
**This is not an investment advice. Your capital might be at risk.**
Give me your idea on comments...
Good Luck...
Then price got nice support there and strong bulls came.
They went up and broke the bear trendline, retested the broken trendline ( Higher Low ).
Then trend resumed. The current market cycle is broad bull channel.
December 20, 2021, beginning of previous week was start of current bull impulsive leg.
If you check H1 timeframe you notice the rising WG at the end of this bull leg.
Beginning of this WG can be possible target for bears.
I expect AUDJPY to fall down and complete correction of this bull impulsive leg.
Fibonacci levels + Trading Zone ( Gold ) is where that correction may get ended.
**This is not an investment advice. Your capital might be at risk.**
Give me your idea on comments...
Good Luck...
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.