AUDJPY trying to form a bottom with what looks to be an inverse head and shoulders pattern. Location on the higher timeframes, daily and weekly, look good. This would be considered a counter trade trade because daily is down. Because of the riskier nature of counter trend trades, confirmation is best. Seeing price rally out of the area would be a good sign for confirmation, a close above would be even stronger.
Check out my relative strength analysis I post everyday on twitter @WhosTrend
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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.
Check out my relative strength analysis I post everyday on twitter @WhosTrend
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.